$25K Home Builder scheme

Grants of $25,000 will be available for Australians who carry out substantial renovations to their existing home or build a new home where the contract is signed between 4 June 2020 and 31 December 2020.

The grants are subject to certain conditions including

• construction must be contracted to commence within three months of the contract date
• eligible applicants must fall under income caps of $125,000 for singles and $200,000 for couples
• the cost of building a new home cannot exceed $750,000 and
• a renovation price range of $150,000 up to $750,000 will apply to renovating an existing home with a current value of no more than $1.5 million.

We will provide more information about the eligibility criteria and how to apply in coming days.

• See the Treasury Coronavirus Economic Response websitefor more information about the Homebuilder program, including eligibility information. This site provides a fact sheet and answers to frequently asked questions.
• HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations.
• You will be able to apply for HomeBuilder when the relevant State or Territory Government that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government.
• Information on when and how you will be able to apply will become available through the relevant State or Territory revenue office in due course.

Best regards,

Steve Adam.

Clear Vision Finance