The Federal Government has announced a $25,000 grant via a construction stimulus program called HomeBuilder.
HomeBuilder provides this grant to eligible owner-occupiers, including first-home buyers, to build a new home or substantially renovate an existing home.
HomeBuilder can be used in conjunction with the First Home Owner Super Saver Scheme and First Home Loan Deposit Scheme.
You don’t need to be a first home owner to apply.
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
you are a natural person (not a company or trust);
you are aged 18 years or older;
you are an Australian citizen;
you meet one of the following two income caps:
$125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or
$200,000 per annum for a couple based on both 2018-19 tax returns or later;
you enter into a building contract between 4 June 2020 and 31 December 2020 to either:
build a new home as a principal place of residence, where the property value does not exceed $750,000; or
substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million;
construction must commence within three months of the contract date.
HOW TO APPLY
Information on when and how you will be able to apply will become available through the relevant State or Territory revenue office in due course. Information about what Homebuilder will mean for the construction industry is available on business.gov.au or by contacting 13 28 46. Please keep in touch with business.gov.au for updated State and Territory information as it becomes available