Barker & JenningsBarker & JenningsBarker & Jennings

HomeBuilder Scheme Grants of $25,000

June 11 2020

The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home.

Eligibility

Eligibility criteria apply to the individuals applying for the grant and the building project:

Individual eligibility

The HomeBuilder scheme is available to owner occupiers including first home buyers. It is not accessible to owner builders, developers or investors.

To be eligible you need to be:
• An individual (not a company or trust); and
• 18 years of age or older; and
• An Australian citizen.
And, you need to meet the income test.

To be eligible, you cannot earn more than:
• Individuals – $125,000 based on your 2018-19 or later tax return
• Couples – $200,000 based on both of your 2018-29 or later tax returns

The building project eligibility
The building contract must be signed between 4 June 2020 and 31 December 2020. And, the construction or renovation must commence within three months of the contract date.

For further information please contact our office (03) 5331 3118