What is Homebuilder?
Homebuilder is a time-limited program introduced by Australian Government, which helps local individuals to build their houses by distributing a flat $25,000 AUD grant. This amount will not be taxed.
When and how can I access it?
The program will be available to public between 4 June 2020 and 31 December 2020.
To access it, the state you live in will have to sign the National Partnership Agreement with the Commonwealth Government, until then, the program will not be accessible to you. For more information please contact your local authority.
Eligibility criteria for Homebuilder:
Company or Trust cannot claim this program (only individuals)
You are over 18 years old
You have Australian citizenship
You meet one of the following two incomes caps:
- $125,000 per annum for an individual on 2018-19 tax returns or later
- $200,000 per annum for a couple on 2018-19 tax returns or later.
You have a construction contract between 4th of June and 31st of December such as:
- build a new house, with the property value not exceeding $750,000, or
- renovate your existing home, where renovation cost is between $150,000 and * $750,000 and the total property value must not exceed $1.5 million.
Construction must take place within three month after claiming the program.
If you already have a land or planning to purchase the land, the above criteria will still apply to you
Homebuilder is not available for investment properties or owner-builder.
The contract between builder and owner of the house must be at arms length. Which means both parties must be operated separately of each other and must not have any special relationship, such as being relatives. This is to reduce the number of applications and only those individuals who really need it, should be given.
All types of dwelling is acceptable such as house, apartment, house and land package, etc.
What documents will I need to provide?
Proof of identity
A copy of the contract, dated and signed by you and licenced builder/constructor
A copy of the builder’s licence (not all states requires them, please contact your local authority)
A copy of your 2018-19 tax return
Other documents such as proof of land value, council approvals
Once you submitted the application, the relevant State agent will contact you of the outcome. If you feel unhappy with the results you can appeal to the authority. More information will come later. If your circumstances changes please notify local authority immediately.
For more detailed information please go to: https://treasury.gov.au/sites/default/files/2020-06/HomeBuilder_Frequently_asked_questions.pdf
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