Homebuilder grants are now available.
Homebuilder — what is it? You may have heard by now that the Australian government is offering $25000 grants to eligible home builders and renovators.
The scheme comes into effect from 4 June, and comes with some conditions. Read on…
Here at Leimac Building, we could not be more excited to help you get your next project happening. Call Gav on 0428 97 87 00 to ask how you can get your renovation or custom home build happening soon.
Eligibility for the grant
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
Other HomeBuilder grant conditions:
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020.
Construction must commence within three months of the contract date.
In great news for first home buyers:
HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.
All the details are here in this fact sheet.