Cricket Australia released a fresh list of central contract for the 2020-21 season.
20 men's cricketers have been awarded with the same.
Here are further details on the same.
Several cricketers missed out on the primary contract list alongside Khawaja and Stoinis.
The players are Nathan Coulter-Nile, Peter Handscomb, Marcus Harris, Shaun Marsh and Ashton Turner.
Meanwhile, Peter Siddle, who has retired from international cricket, was not considered.
Khawaja and Stoinis' demotion shows how these two have fallen in the eyes of the national team coach Justin Langer and the selectors.
Both these players were considered central figures in the national team as recently as last year's World Cup in England.
Stoinis endured a poor tournament and didn't feature again,
He shined for Melbourne Stars in the Big Bash League as an opener.
Meanwhile, Khawaja fell from prominence in a difficult Ashes series last year.
He lost his place to Marnus Labuschagne.
Labuschagne, who ended 2019 as the highest run-scorer in Test cricket, has also been fitted into the ODI set-up of late.
He earned his first full CA contract and this represents a rapid rise in his game.
He is one of the best talents around.
"We feel all deserve their inclusion recognizing the performances of those players in the past 12 months and, as importantly, what they can offer in the next 12 months," Hohns said.
"Marnus' rise has been meteoric and well documented, Joe has been a good Test match player, Ashton Agar's form in T20 internationals has been exceptional, while Kane Richardson has been outstanding as well."
Men's central contracts 2020-21: Ashton Agar, Joe Burns, Alex Carey, Pat Cummins, Aaron Finch, Josh Hazlewood, Travis Head, Marnus Labuschagne, Nathan Lyon, Mitchell Marsh, Glenn Maxwell, Tim Paine, James Pattinson, Jhye Richardson, Kane Richardson, Steven Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa.
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