HomeBuilder Legislation Finally Passed

Aug 17, 2020
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The Australian Government has finally written the legislation and released the HomeBuilder Grant Application and Guide. See the link with the main points marked in yellow.

Download: HomeBuilder Grant Application and Guide

In summary the main points are;

1. Build cannot have started before 4 Jun 2020;
2. Contract date must be after 4 Jun 2020 and before 31 Dec 2020;
3. Construction must start within 3 months of contract date;
4. You must be registered on the title no later than 31 Oct 2022.

The Australian Government announced the HomeBuilder Grant on 4 June 2020 to provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home, substantially renovate an existing home or buy an off the plan home/new home.

The grant was introduced in response to the Covid-19 pandemic to stimulate the construction sector which employs over 1.15 million Australia wise (its 9% of all jobs in Australia).

The HomeBuilder applications will need to be lodged electronically which is yet to made available.

We will keep you posted.

Roy Skaf
Managing Director
Macquarie York