PHOTO: Both new and existing homes are eligible. Source: Supplied
Homeowners can super-size the building of their new home or renovations via the government’s new HomeBuilder initiative. Here’s how to take advantage, no matter where you live.
Homeowners have the chance to supercharge the building of their new home or renovations via the Morrison Government’s HomeBuilder initiative. Read our Frequently Asked Questions below to understand how you can take advantage of it.
What is HomeBuilder?
HomeBuilder is a tax-free grant program initiated by the Federal Government to stimulate the residential construction sector in response to the economic downturn caused by COVID-19. It will provide eligible applicants with a $25,000 grant to help build a new home or renovate an existing home.
Am I eligible for HomeBuilder?
To access HomeBuilder, you need to be an owner-occupier, building or renovating a home and meet the following criteria:
— You are an Australian citizen aged 18 or over, you can’t access it through a company or trust
— Your annual income needs to be less than $125,000 for individual applicants, or less than $200,000 for a couple based on your 2018-19 tax returns or later.
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