Updated 1 December 2020.
Announced on 4 June 2020, the HomeBuilder Program will provide all eligible owner-occupiers (not just first home buyers) with a grant of $25,000 for those who enter into a contract before 31 December 2020 to build a new home or substantially renovate an existing home or $15,000 for those who enter into a contract before 31 March 2021.
It is hoped HomeBuilder will help to support the residential construction sector including businesses and sole-trader builders, contractors, property developers, construction materials manufacturers, engineers, designers and architects.
It is also a nice boost for Australian’s wanting to build their home or renovate existing houses.
Key details include:
HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments. Information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office.
Extension to 31 March 2021
It was recently announced that the Homebuilder program will be extended until 31 March 2021 with a reduced grant.
The changes for the extension include:
Other than the above, the existing program criteria applies. That is, the other existing eligibility criteria remains in place and the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.
For full details on the Program please see the following Government pages:
If you have any questions about the grant please call us to discuss on 03 5443 0344 or email email@example.com