$25,000 Government Grant for home renovations now available
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*The Government will fund grants worth $25,000 for eligible singles and couples planning to renovate homes between June and the end of December 2020. To qualify, people must be planning to renovate an existing property, with the upgrade valued at between $150,000 and $750,000. To be eligible for the grants, singles need to earn $125,000 a year or less based on a 2018/19 tax return or later, and couples need to earn under $200,000. Building contracts need to be executed between 4 June and 31 December 2020.
HomeBuilder extension and key dates
The Australian HomeBuilder Grant has been extended to 31 March 2021, with changes to the grant amount and criteria, and a new date of 14 April 2021 by which all applications must be submitted.
This new date of 14 April 2021 replaces the previous submission deadline of 31 December 2020. While all applications must be submitted via the HomeBuilder portal https://vic.us7.list-manage.com/track/click?u=8f4f370a885f57966f61956e7&id=a6b6db2287&e=40039291d6 by this new date, it does not mean that all supporting documents must be uploaded by then. You can continue uploading your supporting documents, as they become available, beyond 14 April 2021.
- 4 June 2020-31 December 2020 — enter into a contract to build or renovate between these dates to be eligible for the $25,000 grant.
- 1 January 2021-31 March 2021 — enter into a contract to build or renovate between these dates to be eligible for the $15,000 grant.
- 14 April 2021 — all applications must be submitted via the HomeBuilder portal by this date.
Changes to the program In extending the HomeBuilder program, the Australian Government announced a number of changes.
For contracts entered into between 1 January 2021 and 31 March 2021
- The grant reduces to $15,000.
- The property price cap for new build contracts increases to $850,000 from the original $750,000 (in Victoria).
For all contracts, including those entered into from 4 June 2020
- The construction commencement timeframe increases to 6 months from the date the contract is entered into.
- For contracts signed before 29 November 2020, the licence or registration of the builder must be dated before 4 June 2020 and for contracts entered into thereafter, it must be dated prior to 29 November 2020.
For more information:
Visit the HomeBuilder guidelines on our website https://vic.us7.list-manage.com/track/click?u=8f4f370a885f57966f61956e7&id=3be4ced180&e=40039291d6.
Visit the Australian Government’s HomeBuilder page https://vic.us7.list-manage.com/track/click?u=8f4f370a885f57966f61956e7&id=fc1f7da4de&e=40039291d6