At the end of November, the Australian Government announced that the HomeBuilder program would be extended with some changes. Applications now can be submitted up to 14th April 2021 (inclusive) which is quickly approaching. If you qualify for the criteria, there is still time to get in before deadline to take advantage of this program and apply for the grant.
Applications must be received by 14 April 2020 (inclusive), and all supporting evidence and documents must be provided by 30 April 2023. If you are planning on applying for this grant, contact a qualified solicitor soon to discuss how they can assist you to make the process smooth and ensure your application is submitted by the due date.
Build or Renovate
A grant amount of $15,000 for contracts signed between 1 January and 31 March 2021 is available to eligible individuals and couples to put towards either building a new home or buying an Off-The-Plan home that they will own and occupy, or significantly renovating an existing home as an owner-occupier. There are eligibility criteria that apply to all people who will apply for the grant that include:
- Has not received a HomeBuilder grant previously in any state or territory.
- Individuals and couples must be at least 18 years of age.
- Must be an Australian citizen at the time of application.
- Annual Taxable Income for 18-19 or 19-20 must be below:
- Individual: $125,000
- Couple: $200,000 (combined)
- Are or will be the registered owner on the land.
- The home will be your principal place of residence after settlement or completion.
- The building contract signed between 1 January and 31 March 2021 for:
- Build/purchase of a new home where the combined total of the build amount and value of the land is $750,000 or less (inc. GST) where construction had not started before 4 June 2020, or
- Significantly renovate an existing home where renovations cost between $150,000 to $750,000 (inc. GST), and the value of the house and land before renovation is less than $1.5 million.
Find a qualified solicitor in Cairns.
The experienced team at Marino Lawyers can help with professional and qualified advice. To discuss how we can help you navigate the application process, contact us on 07 4081 6700, or send a message here.