Know more about HomeBuilder Grant and How to Apply

Where 2020 has been a bad year for most of us, there is one great news for all those people who had to put their dream of building and owning a new home on hold because of Covid-19. The Federal Government has announced on June 2020 to give $25k Homebuilder Grant to help the Australian economy and the residential construction market to bounce back after the Pandemic. This grant will assist those who always wanted to build, buy, or renovate their home.

Key Dates

Building contracts signed between 4 June 2020 and 31 December 2020 will be eligible to apply for a $25,000 grant. Whereas, building contracts signed between 1 January 2021 and 31 March 2021 will be eligible to apply for a $15,000 grant.

Who is Eligible?

Any adult Australian citizen i.e., 18 years or above.
An individual, not a company or trust
Individual applicant – Income of less than $125,000 per annum or Couple applicant- Income of less than $200,000, based on 2018/19 tax return or later.

Check your eligibility here: https://www.sro.vic.gov.au/am-i-eligible-homebuilder-grant

How to apply?

You can contact your State or Territory revenue office for more information regarding the information about when and how you can apply for HomeBuilder Grant.

Victorians can apply here: https://www.sro.vic.gov.au/owning-property/australian-homebuilder-grant

Source: https://treasury.gov.au/coronavirus/homebuilder