Government HomeBuilder Support For House Building Perth
News today is that the Australian government announced $40,000 HomeBuilder housing construction and renovations grant for new housing building and $25,000 for house renovations over $150,000 dollars.
Government’s goal is to supply work for the house building industry. People planning a big project are set to benefit.
HomeBuilder Grant Eligibility
- Adult Australian citizen with a taxable income less than $125,000 a year. If you live with your partner, your combined income has to be less than $200,000 per year
- Before the end of 2020, you need to enter a contract to renovate or build your main place of residence. Construction must begin within three months of the contract date (no investment properties).
- For house renovations, you need to spend between $150,000 and $750,000 of your own money, and the house you’re renovating must be valued at less than $1.5M befor renovations
- Renovations need to improve the accessibility, safety or liveability of the home and does not include external work like swimming pools, tennis courts and sheds.
- For new home building, the total value of the completed home needs to be less than $750,000, including land.
Should you meet the HomeBuilder criteria, there are are other contractual requirements.
For instance, your building contract needs to be negotiated market price, to prevent people from asking their builder to puff up the costs so you can access the HomeBuilder grant. Also construction at market building prices reduces the chance of corruption where excess of inflated house building prices is paid to builders with builders skimming and sharing over the top prices with home owners.
HomeBuilder Grant Application
Q: Where to apply for the governments HomeBuilder grant?
A: Western Australian Office of State Revenue.