The Australina

States and territories will be expected to absorb administration costs to implement the HomeBuilder scheme, which will be delivered directly to applicants through stale revenue offices.

HOMEBUILDER EXPLAINED

How You Qualify
  • $25,000 grants paid directly to eligible owner-occupiers (not just first home buyers) to build new homes or substantially renovate existing homes

  • Owner-occupiers must apply as individuals, not a company or trust

  • Be Australian citizens aged over 18

  • Meet two-income caps – individuals earning under $125,000, couples earning under $200,000

  • $25,000 grants to eligible individuals who enter into building contracts between June 4 and December 31

  • Work must commence within three months of the contract date

  • Building a new home as a principal place of residence valued up to $750,000 (including land)

  • Substantially renovating existing home as a principal place of residence, with renovations valued at between $150,000 am $750,000. The home must be valued under $1.5m before renovations.

  • Building work must be undertaken by a licenced building contractor. The builder cannot be a relative of the property owner.

  • Renovations can be a combination of works (kitchen, bathroom etc)

What’s not allowed
  • Renovations must improve the accessibility, safety and liveability of the home. It cannot be used for swimming pools, tennis courts, outdoor spas and saunas, detached sheds or garages.

  • Owner-builders and people seeking to build a new home or renovate an existing home as an investment properly are ineligible.

Read the full story, by Geoff Chambers and Simon Benson, here.

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