COVID-19 – Homebuilder Grant

The Australian Government has introduced a $25,000 HomeBuilder grant to help the residential construction market get through the COVID-19 pandemic for the period between 4 June 2020 to 31 December 2020.

This $25,000 grant applies to:

• Building contracts to build your new home with a combined house and land value of not exceeding $750,000.
• Building contracts with a registered builder for renovations to your home of a value between $150,000 and $750,000, provided your home does value does not exceed $1.5m. This includes a “knock down / rebuild” of your existing home.
• Contracts to purchase your new home off-the-plan where the value does not exceed $750,000 and construction did not start prior to 4 June 2020. Completion of your purchase of this off-the-plan home must be settled no later than 31 October 2022.

You must also:

• Be an individual (not a company).
• Over 18 years of age.
• An Australian citizen.
• Have an income of $125,000 per annum or less for an individual or $200,000 per annum for a couple.

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