The Australian Government has announced a $688 million HomeBuilder Stimulus package today to assist in kick starting the residential construction industry which has almost ground to a halt. The federal government is offering a $25,000 grant commencing midnight 4 June 2020 until 31 December 2020 to home owners who wish to substantially renovate or construct a new home. This grant applies to all owner-occupiers – not just first home buyers.
To be eligible for the HomeBuilder scheme, you must:
Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
Be spending between $150,000 and $750,000 on a renovation for a previous valued home of less than $1.5 million, or
Be building a new home under $750,000 including land value.
Earn up to $125,000 if you are single or up to $200,000 if you are a couple.
Construction of the new home or renovation must be contracted to begin within three months.
This scheme does not apply to companies or trusts, or owner-builders or those who are planning to build a new home, or renovate an existing home as an investment property.
The scheme also excludes sheds, pools, granny flats, outdoor spas & saunas, and any other structures not attached to the home.
This scheme will work along existing state & territory first-home owner grants programs, including the Commonwealth first Home Loan Deposit Scheme for $10,000 assistance available from 1 July, 2020 and the Queensland Governments First Home Owners Grant of $15,000.
Dibble Constructions is committed to doing our part in the current coronavirus situation. We take very seriously the threat and possible impact of the virus spreading and therefore we are implementing firm steps in preventing the spread of the coronavirus.
If you are one of our current or prospective clients, or if you have contact with or work at one of our sites, please follow the rules and measures established and when on-site, follow the Site Manager’s instructions.