March 31, 2025
This week has seen two major announcements in construction sector – the Federal Budget and infrastructure plans for the 2032 Brisbane Olympics.
Firstly, this article will identify and summarise what the key takeaways are from the 2025-2026 Federal Budget for people working in the construction sector. Secondly, we will look at the Queensland Government’s infrastructure plans for the Olympics including, a new stadium at Victoria Park.
Federal Budget
On Tuesday 25 March 2025, Treasurer Jim Chalmers handed down a pre-election Federal Budget targeted at cost-of-living relief, tax changes, and continued infrastructure investment.
While no new housing programs were introduced, funding was boosted in certain areas, which will have implications for the construction sector. In terms of infrastructure, this year’s budget focused on allocating funds to significant road and rail projects.
Infrastructure
The government has allocated $17.1 billion over ten years to road and rail infrastructure projects nationwide. This forms part of the Government’s over $120 billion 10-year infrastructure investment pipeline. The projects include:
- Queensland: $7.2 billion for Bruce Highway upgrades and $200 million for the Rockhampton Ring Road.
- New South Wales: $1 billion for the Southwest Sydney Rail Extension and further road upgrades.
- Victoria: $2 billion for Sunshine Station and $1.1 billion for the Western Freeway.
- Western Australia: $350 million for the Kwinana Freeway.
- South Australia: $125 million for the Curtis Road Level Crossing Removal.
- Tasmania: $280 million for the Arthur Highway and Southern Outlet.
- ACT: $50 million for Monaro Highway works.
- Northern Territory: $200 million for duplication of the Stuart Highway.
Help to Buy Scheme
The government will inject an additional $800 million into the Help to Buy Scheme, to lift property price and income caps to make the scheme more accessible. The income cap will be lifted to $100,000 for singles and $160,000 for couples or single parents. Additionally, the property price cap will be lifted to $1 million in Brisbane.
Investment in Prefabricated and Modular Housing
The government has offered $49.3 million to the states and territories to increase programs aimed at lifting the construction of prefabricated homes. Another $4.7 million has been allocated to develop a national certification process for offsite construction.
Ban on Foreign Purchases of Existing Homes
To help increase housing stock available, a two-year ban on foreign buyers purchasing existing residential homes will take effect on 1 April 2025.
Apprentice Incentives
Incentive payments for apprentices in the housing sector have been doubled to $10,000. In addition, employers hiring eligible apprentices can now receive up to $5,000 through a new Priority Hiring Incentive. These measures build upon the already established Australian Apprenticeship Incentive System.
Recovery and Rebuilding
The budget includes $1.2 billion to be placed in a contingency fund to better respond to future natural disasters. This decision came after the extensive damage from ex-Tropical Cyclone Alfred and subsequent rains in Queensland. Flooding damaged infrastructure and disrupted supply chains, agricultural production, construction, retail and tourism activity.
New Stadium Announced for 2032 Brisbane Olympic Games
Another notable announcement of the week was that a new 63,000 seat stadium will be built at Victoria Park for Brisbane’s 2032 Olympic Games.
The new stadium was announced by the Queensland Government as part of their 2032 Delivery Plan. Under the plan, a new National Aquatic Centre will also be built. It will be located at the current site of the Centenary Pool in Spring Hill.
There will also be a major upgrade of the Queensland Tennis Centre. The centre will now include a new 3,000 seat show court arena and 12 new match courts, in addition to Pat Rafter Arena.
Other infrastructure upgrades for the Olympic games include:
- The Main Arena at the RNA Showgrounds will be upgraded to have a 20,000 seat outdoor arena. The showgrounds will also be upgraded to include Athlete Village, which will be converted to permanent housing after the games.
- The Chandler Sport Precinct will be upgraded to include a dedicated Para-sport Facility.
- The new Redland Whitewater Centre will be delivered within the future Birkdale Community Precinct.
- The Brisbane International Shooting Centre will be upgraded to increase capacity of the indoor range.
- Logan and Moreton Indoor Sports Centres will be built to address the growing demand for indoor courts.
The announcements are the exciting part – next, delivery!
Lamont Project & Construction Lawyers
We have the industry knowledge and experience to assist both Principals and Contractors in all major infrastructure projects. If you would like to discuss any of the matters raised in the above article as it relates to your specific circumstances, please contact Lamont Project & Construction Lawyers.
The content of this article is for information purposes only; it does not discuss every important topic or matter of law, and it is not to be relied upon as legal advice. Specialist advice should be sought regarding your specific circumstances.
Contact: Peter Lamont or Ashleigh van Meurs
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