Cash grants for construction & renovations
A $25,000 grant will be available to owner-occupiers renovating or building a new home after 4 June, under a new Government scheme dubbed the "HomeBuilder" package.
To be eligible for the HomeBuilder scheme, you must:
Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
Be on an income of less than $200,000 for couples, and $125,000 for singles.
Be spending $150,000 or more on a renovation that has been previously valued at less than $1.5 million.
Be building a new home worth less than $750,000.
Crucially, the grant will apply to everyone - not just first home buyers.
The scheme will not apply to investment properties or owners who intend on building or renovating on their own without the help of builders.
The grant also cannot be used for additions to the property that are not connected to the home, such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages.
The grant will be offered for contracts entered into between 4 June 2020 and 31 December 2020. Construction must be contracted to begin within three months of the contract date to be eligible.