$25,000 government building grant

$25,000 government building grant

The Australian Government has announced a stimulus package for the building and construction industry. This program will provide cash injection grants of $25,000 to eligible new homes and renovations.

Here are the major points within the grant:

  • The grant is effective June 4th, 2020 and runs through to December 31st, 2020.
  • A contract must be signed during this period and construction must commence within 3 months of contract signing.
  • The project must be for your own home (not an investment).
  • It is only for projects that are between $150,000 and $750,000.
  • The home value must not exceed $1.5 million.
  • Your personal income must be individually less than $125,000 or a combined income of $200,000.
  • Sheds, yurts, granny flats, pools, tennis courts and any other structure not attached to the home are not be eligible.

For further details on how the grant will be administered or for detailed examples of qualification please check out the link to HomeBuilder Grant on the government website:
https://treasury.gov.au/coronavirus/homebuilder