In late 2020, the Federal Government announced an extension of the Homebuilder Grant.
The announcement included:
- extending the eligibility period from 1 January 2021 to 31 March 2021;
- reducing the grant to $15,000.00 for those applicants who sign contracts between 1 January 2021 and 31 March 2021;
- extending the construction commencement window by 6 months (to the end of September 2021); and
- increasing the price cap for new builds in New South Wales (now $950,000.00).
To be eligible for the Homebuilder Grant you must:
- be a natural person (e.g. not a corporation);
- be an Australian citizen aged 18 or over; and
- earn less than $125,000.00 as an individual, or less than $200,000.00 as a couple.
Construction must commence within six (6) months of the signing the contract.