WHAT IS HOMEBUILDER?
HomeBuilder is a time-limited, tax-free grant program to help the residential construction market to get
through the Coronavirus pandemic.
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to
build a new home or substantially renovate an existing home.
WHEN CAN I ACCESS HOMEBUILDER?
HomeBuilder will be available for building contracts signed between 4 June 2020 and 31 December 2020,
where construction or renovation commences within three months of the contract date.
HOW CAN I ACCESS HOMEBUILDER?
You should contact your relevant State or Territory authority on when and how to apply for HomeBuilder.
You will be able to apply for HomeBuilder when the Government of the State or Territory that you live in, or
plan to live in, signs the National Partnership Agreement with the Commonwealth Government.
Australia state break down FHOG + FHLDS + HomeBuilder grant
================================
NSW
FHOG 10k
FHLDS 10k
HB 25k
------------
45k
FHOG 10k
FHLDS 10k
HB 25k
------------
45k
VIC
FHOG 10-20k
FHLDS 10k
HB 25k
------------
55k
FHOG 10-20k
FHLDS 10k
HB 25k
------------
55k
ACT
FHOG 00k
FHLDS 10k
HB 25k
------------
35k
FHOG 00k
FHLDS 10k
HB 25k
------------
35k
NT
FHOG 10k
FHLDS 10k
HB 25k
------------
45k
FHOG 10k
FHLDS 10k
HB 25k
------------
45k
QLD
FHOG 15k
FHLDS 10k
HB 25k
------------
50k
TAS
FHOG 20k
FHLDS 10k
HB 25k
------------
55k
FHOG 15k
FHLDS 10k
HB 25k
------------
50k
TAS
FHOG 20k
FHLDS 10k
HB 25k
------------
55k
WHAT IS HOMEBUILDER?
HomeBuilder is a time-limited, tax-free grant program to help the residential construction market to get through the Coronavirus pandemic.
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home.
WHEN CAN I ACCESS HOMEBUILDER?
HomeBuilder will be available for building contracts signed between 4 June 2020 and 31 December 2020, where construction or renovation commences within three months of the contract date.
HOW CAN I ACCESS HOMEBUILDER?
You should contact your relevant State or Territory authority on when and how to apply for HomeBuilder.
You will be able to apply for HomeBuilder when the Government of the State or Territory that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government.
WHEN WILL I RECEIVE HOMEBUILDER?
HomeBuilder grants will be paid by the relevant State or Territory authority provided the applicant meets the eligibility criteria.
AM I ELIGIBLE TO RECEIVE HOMEBUILDER?
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
• you are a natural person (not a company or trust);
• you are aged 18 years or older; • you are an Australian citizen;
• you meet one of the following two income caps:
-$125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or
-$200,000 per annum for a couple based on both 2018-19 tax returns or later;
• you enter into a building contract between 4 June 2020 and 31 December 2020 to either:
-build a new home as a principal place of residence, where the property value (house and land) does not exceed $750,000; or
-substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property (house and land) does not exceed $1.5 million; Last updated: 4 June 2020 2
• construction must commence within three months of the contract date.
Owner-builders and those seeking to build a new home which will be used as an investment property, or renovate an existing home which is an investment property, will not be eligible for HomeBuilder. The registered or licensed builder (depending on the state or territory) must demonstrate that the contract price for the new build or substantial renovation is no more than a comparable product (measured by quality, location and size) as at 1 July 2019, if requested by the purchaser.
I ALREADY OWN LAND BUT HAVEN’T SIGNED A CONTRACT TO BUILD A NEW HOUSE – AM I STILL ELIGIBLE?
Yes, if you meet the following criteria:
• If you own a property (house and land), and knock the house down to rebuild – this will be counted as a substantial renovation, and therefore subject to the renovation price range of $150,000 to $750,000 provided the total value (house and land) of the property does not exceed $1.5 million prerenovation;
• If you own vacant land before 4 June 2020, and then build, the total value of the land and new build cannot exceed $750,000; or
• If you buy the land after announcement, and then build, the total value of the land and build cannot exceed $750,000.
HOW DO I APPLY?
You will be able to apply for HomeBuilder through your relevant State or Territory revenue office or equivalent authority, once the State or Territory Government that you live in (or plan to live in) signs the National Partnership Agreement.
States and Territories will backdate acceptance of HomeBuilder applications to 4 June 2020 once the National Partnership Agreement is signed.
You should contact your relevant State or Territory revenue office for more information about when and how you will be able to apply for HomeBuilder.
WHAT DOCUMENTATION WILL I NEED TO PROVIDE?
The State or Territory revenue office will require certain documents to process your application. It is expected that you will need to provide the following at a minimum:
• proof of identity;
• a copy of the contract, dated and signed by you and the nominated registered or licenced builder;
• a copy of the builder’s registration or licence (depending on the state you live in);
• a copy of your 2018-19 tax return (or later) to demonstrate your eligibility against the income cap; and
• documents such as council approvals, building contracts or occupation certificates and evidence of land value.
WHEN WILL I KNOW IF MY HOMEBUILDER APPLICATION IS SUCCESSFUL?
The relevant state or territory administering agent will notify you of the outcome.
For more information: HomeBuilder FAQ
First Home Buyer for different state::
- NSW - VIC - ACT - QLD - TAS - WA - NT - SA
Update: Aug 1, 2020 (NSW)
----------------------------
NO STAMP DUTY until Aug 1, 2021 in NSW on new homes under $800,000 for first home buyers.
Increase from $650,000 to $800,000
Increase from $650,000 to $800,000
https://www.smh.com.au/politics/nsw/stamp-duty-paused-for-nsw-first-home-buyers-to-boost-construction-20200727-p55fpp.html?fbclid=IwAR3pdKTfZzz6MmQRdSIuQvC7DdNRtixtM63SJBDLI3mwEog4EpA7Np3j0-k
Source: Australian Government website
Refer to website "Disclaimer"
Up to $55,000+ grant from HomeBuilder plus other grant
Reviewed by
on
09:52
Rating:
No comments: