State subsidy - Austria offers craftsman bonus up to 2000 Euro
In Austria, at least part of craft invoices are reimbursed. With the so-called Craftsman Bonus, renovations, repairs, and conversions of living space in the private sector are supposed to be supported. The time-limited bonus can be applied for starting from now, the services must be rendered by the end of 2025, according to Federal Chancellor Karl Nehammer (ÖVP). Craftsmen are reimbursed 20% of their net labor costs, with a minimum of 50 Euros and a maximum of 2,000 Euros in this year or 1,500 Euros next year. One application can be submitted per calendar year and per person.
Craftsman Bonus to boost Conjuncture
In total, 300 Million Euros are planned for the Craftsman Bonus, according to the Austrian Chamber of Commerce (WKO). The demand is high. "A significant element to boost the economy is the Craftsman Bonus, which secures orders for businesses and promotes the improvement of living space", explains Federal Chancellor Nehammer. The bonus is part of the government's construction and housing package. Orders for the construction industry were down by 27% in 2023 compared to the previous year.
- The Craftsman Bonus, a subsidy initiative by the Austrian government, aims to incentivize craftsmanship, particularly in renovations, repairs, and expansions of private living spaces in Vienna.
- In light of the low demand in the construction industry, with orders down by 27% in 2023 compared to the previous year, the Craftsman Bonus, part of the government's construction and housing package, is expected to provide a much-needed boost to Austria's economic growth.
- The Austrian government, under the leadership of Federal Chancellor Karl Nehammer, plans to allocate 300 Million Euros to the Craftsman Bonus, hoping to boost the economy by securing orders for businesses and promoting improvements in living spaces through craftsmanship.
- To further support the real estate sector, the government of Austria introduced the Craftsman Bonus, providing craftsmen with a 20% reimbursement of their net labor costs up to 2,000 Euros (or 1,500 Euros in 2024) for eligible services, helping to stimulate the economy.
