The HomeBuilder grant has been introduced as a response to the Coronavirus crisis to assist both eligible home owners and buyers as well as to provide relief to the construction industry by stimulating the market.

Grant Details

The grant will be a one-off payment of $25,000, with the aim of providing financial assistance for eligible home owners who will be building a new home or significantly renovating their existing home. The grant can be used as part payment for building a new home or a major renovation to an existing home where the contract is signed between 4 June 2020 and 31 December 2020, with construction beginning within three months of the contract being signed.

Eligibility

The following criteria are required to be met to access the HomeBuilder grant:

  • You are an individual or a couple
  • The applicant is not a company or a trust
  • You are aged 18 years or older
  • You are an Australian citizen
  • Your annual taxable income for either the 2019 or 2020 financial year is below one of the following thresholds:
    • $125,000 annual taxable income for an individual; or
    • $200,000 annual taxable income for a couple
  • You enter into and sign a building contract between 4 June 2020 and 31 December 2020 for either:
    • Construction of a new home where you will reside
    • A major renovation to your existing home as your main place of residence
  • The value of the constructions are:
    • Limited to $750,000 for a new build; or
    • Between $150,000 and $750,000 for renovations
  • The renovations are not made on a home which has a pre-renovation value of more than $1.5 million
  • Construction commences between 4 June 2020 and three months from the contract date
  • The construction improves the accessibility, safety or liveability of the home

The following are not eligible for the HomeBuilder grant:

  • Licenced builders are not eligible where they work as contractor on their own property
  • Investment properties are not eligible
  • Building contracts that are not made at arms-length
  • Building contracts without a registered or licenced building contractor
  • Building contracts for standalone granny flats, swimming pools, tennis courts or structures independent of the main property

 

Applying for the HomeBuilder Grant

Applications for the HomeBuilder grant will be opening shortly through Revenue NSW. You can contact Revenue NSW at Home.Builder@revenue.nsw.gov.au or phone them on 1300 130 624. Further information about the application process in NSW can be found at revenue.nsw.gov.au/news-media-releases/covid-19-tax-relief-measures/homebuilder-program.

For other states and territories, please contact the following:

  • Australian Capital Territory: please contact the ACT Revenue Office
  • Northern Territory: please contact the Territory Revenue Office
  • Queensland: please contact the Queensland Office of State Revenue
  • South Australia: please contact the South Australia Revenue Office
  • Tasmania: please contact the State Revenue Office of Tasmania
  • Victoria: please contact the State Revenue Office of Victoria
  • Western Australia: please contact the Western Australia Revenue Office

You can also receive updates by email for when more information is available for applications for your state or territory by subscribing at treasury.gov.au/coronavirus/homebuilder.

Application Process

The requirements for the application to be accepted and payment of the grant are as follows:

  • Construction has begun
  • The first payment on the construction is made based on the type of construction:
    • First Home Build: The first progress payment has been made
    • Major Renovations: At least $150,000 of the contract price has been paid
    • New Home Purchase: No payment required, the applicant(s) name is registered on the title
  • Supporting documents will be requested by the State or Territory Revenue Office upon the application being made
  • The applicant(s) is listed on the certificate of title for the property
  • The application must be made for one person only if there is one name on the certificate of title, or as a couple if more than one name on the certificate of title
  • Only one application can be made for a single property
  • The applicant(s) have not applied for the HomeBuilder grant for another property

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The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained.

 

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