Home Builder Grant
HomeBuilder Grant provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home.
Who qualifies?
- Be a current or prospective owner-occupier, not an investor
- Be a natural person, not a company or trust
- Be an Australian citizen
- Earn $125,000 or less a year for singles or less than $200,000 a year for couples based on your 2018-19 tax return or later
What types of dwellings are eligible?
- All dwelling types including house, apartment, house and land package and off the plan etc.
How long have I got?
- To qualify, participants must enter into a building contract between 4 June and 31 December 2020.
- Construction must be contracted to commence within three months of the contract date.
What can I spend it on?
- Build a new home as a principal place of residence valued at up to $750,000 (including land)
- Substantially renovate an existing home as a principal place of residence, with renovations valued at between $150,000 and $750,000 and the dwelling not valued at more than $1.5m before the renovation.
The renovation must be supervised by a registered or licensed builder.
Are there any exclusions?
- The renovation need not involve removal or replacement of foundations, external walls, interior supporting walls, floors, roof or staircases. However, it should improve the accessibility or safety or liveability of the property.
- Homebuilder grants cannot be for used for swimming pools, tennis courts, outdoor spas and saunas, nor detached structures such as sheds, garages or granny flats.
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.
*Subject to clients meeting the criteria, see link below.
https://treasury.gov.au/sites/default/files/2020-06/HomeBuilder_Frequently_asked_questions.pdf
