New HOME

Home Builders Grant

Owner-occupier

 

HomeBuilder 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. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations.

You will be able to apply for HomeBuilder when the relevant State or Territory Government that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government.

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.

Summary
HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.
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.
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.

Eligibility
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 taxable income or later;
or
$200,000 per annum for a couple based on both 2018-19 taxable income 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 (house and land) does not exceed $1.5 million (pre-renovation);
• construction must commence on or after 4 June and within three months of the contract date.
Process and timing
HomeBuilder will be implemented via a National Partnership Agreement with State and Territory governments. This approach will utilise existing State and Territory mechanisms to distribute the HomeBuilder payments.
When the States and Territories begin accepting HomeBuilder applications, they will backdate acceptance of these applications to 4 June 2020.

This information has been written and published by Australian Government Treasury Department HERE> 

  

Fact sheet

PDF file
PDF file

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