$25 000 HomeBuilder Scheme
Government grants for eligible new builds and renovation projects.
BREAKING NEWS: Australian Government stimulus building package for new homes and renovations.
The Australian Government has announced a $25 000 grant for building new homes or renovations which utilise trades to complete the works in order to stimulate the building sector.
Government HomeBuilder Scheme Explained by NINE NEWS.
Eligibility for the scheme, according to the Government HomeBuilder Scheme Documents (linked below), includes:
- 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 tax return or later; or
$200,000 per annum for a couple based on both 2018-19 tax returns 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 (house and land)
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;
Last updated: 4 June 2020 2
- construction must commence within three months of the contract date
AUSTRALIAN GOVERNMENT HOME BUILDER SCHEME RESOURCES:
More updates to follow as they are announced.
If you are thinking of building, get in touch with Twofold Building Projects. We are able to provide design, council submission and construction. Click to learn more about our building process.
Twofold Building Projects suggest clients seek the official recommendations from the Australian Government and advice from financial advisors to ensure eligibility for the scheme prior to engaging in a project and construction. Our story only reflects the information as reported in the news articles attached in this post.
TWOFOLD BUILDING PROJECTS – BUILDERS SUTHERLAND SHIRE