$25K BUILDING GRANT

While the details of this grant are still being finalised, the eligibility criteria available to the public is as below. To access the $25k building grant Australian owner-occupiers must meet the following eligibility criteria:

• you must be an owner-occupier aged 18 years or over
• you must be a person; this grant cannot be used for a company or trust
• the person applying must be an Australian citizen
• your lodged 2018-2019 tax return for an individual must show a maximum income of $125,000 or combined $200,000 maximum income per annum for a couple
• the proposed renovation must be on your principal place of residence (investment home renovations are not eligible for this grant)
• the property relating to the grant must not exceed $1.5 million value pre-renovation
• the proposed renovations or home build project must be valued between $150,000 and $750,000 AUD
• the grant cannot be used for items connected to the home, for example pools, garages, tennis courts etc
• you must contract a licensed builder to carry out the work
• the building contract must be signed by yourself and a licensed builder between 4 June 2020 and 31 December 2020
• the building must start within 6 months of the date of the signed building contract.

At this stage the application process is yet to be finalised but will be through your state government. Stay up to date with the latest announcements on your local state government page.

Get in touch with Andrew to start discussing your dream new home build or renovation today.