HomeBuilder Grant Extended
Good news for new home builders in Queensland with the federal government announcing an extension to the HomeBuilder Grant for an additional three months.
Initially, the HomeBuilder Grant was ending on 31st December 2020 but with the extension, the scheme will end on the 31st March 2021, which is great news. There has been a change to the amount of the grant from $25,000 down to $15,000.
Changes to the HomeBuilder program include:
- A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
- An extended deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
- An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
- The existing new build property price cap of $750,000 will continue to apply in Queensland.
- A change in licensing requirements and registration for builders and developers, as below
If you would like to read more about the changes to the HomeBuilder Grant, please visit the Treasury website here. If you want to be able to receive the $25,000 grant you will need to have a signed building contract by 31 December 2020. To find out more about the Homebuilder Grant, please call our friendly Client Managers on (07) 3393 1399 or contact us today.
