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Home Builder Grant $25,000

Home Builder Grant of $25,000 towards a new build or renovation and will be offered for contracts entered into between 4th June 2020 and 31st December 2020. There are strict criteria for eligibility, and construction must be contracted to begin within three months of the contract date.

To be eligible for the Home Builder scheme, you must:

  • Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
  • Be on an income of less than $200,000 for couples, and $125,000 for singles.
  • Be spending between $150,000 and $750,000 on a renovation for a home that has been previously valued at less than $1.5 million.
  • Be building a new home worth less than $750,000 (this includes land value). 

Crucially, the tax-free grant will apply to all owner-occupiers - not just first home buyers.

All dwelling types (house, apartment, house and land package, off the plan, etc) will be eligible under the HomeBuilder scheme.  

The scheme will not apply to owner-builders or those who are planning to build a new home or renovate an existing home as an investment property.

The grant also cannot be used for additions to the property that are not connected to the home, such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages.

Click on the link for FAQ https://treasury.gov.au/sites/default/files/2020-06/HomeBuilder_Frequently_asked_questions_0.pdf

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