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- Friday 26 Jun 2020
$25,000 HomeBuilder grant
The Australian Government has launched the HomeBuilder program providing eligible owner-occupiers $25,000 to put towards the purchase of a newly-constructed home.
The total value of the home and land must not exceed $750,000, and construction of the home must commence within three months of the contract entered into between 4 June and 31 December 2020. The purchase of a newly-constructed home, whereby the construction commenced after 4 June 2020, also meets eligibility criteria if the contract is entered into prior to 31 December 2020.
HomeBuilder can apply in conjunction with the existing First Home Owner Grant program, stamp duty concessions, First Home Loan Deposit Scheme and First Home Super Saver Scheme.
Who is eligible for the HomeBuilder grant?
To receive the HomeBuilder grant, the following eligibility criteria applies:
- 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 2018-19 tax returns 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 and 31 December 2020 to build a new home as a principal place of residence, where the property value (including land) does not exceed $750,000;
- construction must commence within three months of the contract date; alternatively, dwellings currently under construction, with construction commencement of 4 June 2020 or later, are also eligible so long as the contract to purchase is entered into prior to 31 December 2020.
How can I apply?
For more information about the HomeBuilder grant, please click here. To see FAQ about HomeBuilder, click here. Australian Government terms and conditions apply. Further information on accessing HomeBuilder is made available through relevant State or Territory revenue offices.
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