{"id":5325,"date":"2020-06-08T08:11:48","date_gmt":"2020-06-07T22:11:48","guid":{"rendered":"http:\/\/www.www.walshaccountants.com\/?p=5325"},"modified":"2020-12-09T11:47:54","modified_gmt":"2020-12-09T01:47:54","slug":"homebuilder-grant-what-is-it-and-how-do-you-access-it","status":"publish","type":"post","link":"https:\/\/www.walshaccountants.com\/homebuilder-grant-what-is-it-and-how-do-you-access-it\/","title":{"rendered":"HomeBuilder Grant: What is it and how do you access it?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5325\" class=\"elementor elementor-5325\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8725b6d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8725b6d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f3ed5a5\" data-id=\"f3ed5a5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f0703f elementor-widget elementor-widget-text-editor\" data-id=\"8f0703f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\"><strong>The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home.<\/strong><\/p><p style=\"text-align: justify;\">The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home.<\/p><p style=\"text-align: justify;\">The grants will be distributed by the revenue office of the State or Territory where you live or plan to live.<\/p><p style=\"text-align: justify;\">There are a few complexities to this grant that both home builders\/renovators and the building industry need to be across before jumping in and signing a new contract on the expectation that the grant will apply<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a01b83b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a01b83b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-540a2cf\" data-id=\"540a2cf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-79b79b1 elementor-widget elementor-widget-heading\" data-id=\"79b79b1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Eligibility Criteria for HomeBuilder Grant<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1acf6c6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1acf6c6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a8349b9\" data-id=\"a8349b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a5c7862 elementor-widget elementor-widget-text-editor\" data-id=\"a5c7862\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">Eligibility criteria apply to the individuals applying for the grant and the building project:<\/p><p><strong>Individual eligibility<\/strong><\/p><p>The HomeBuilder scheme is available to owner occupiers including first home buyers. It is not accessible to owner builders, developers or investors.<\/p><p>To be eligible you need to be:<\/p><ul><li>An individual (not a company or trust); and<\/li><li>18 years of age or older; and<\/li><li>An Australian citizen.<\/li><\/ul><p>And, you need to meet the income test. To be eligible, you cannot earn more than:<\/p><ul><li><strong>Individuals<\/strong> &#8211; $125,000 based on your 2018-19 or later tax return<\/li><li><strong>Couples<\/strong> &#8211; $200,000 based on both of your 2018-19 or later tax returns<\/li><\/ul><p><strong>The building project eligibility<\/strong><\/p><p>The building contract must be signed between 4 June 2020 and 31 December 2020. And, the construction or renovation must commence within three months of the contract date.\u00a0<\/p><p>The grants are available if you build a new home or renovate a home to live in (your principal place of residence) where:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3492047 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3492047\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0936833\" data-id=\"0936833\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-efa37ba elementor-widget elementor-widget-image\" data-id=\"efa37ba\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"610\" height=\"98\" src=\"https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2020\/06\/Homebuilder-Grant.png\" class=\"attachment-large size-large wp-image-5326\" alt=\"Homebuilder Grant\" srcset=\"https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2020\/06\/Homebuilder-Grant.png 610w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2020\/06\/Homebuilder-Grant-300x48.png 300w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2020\/06\/Homebuilder-Grant-240x39.png 240w\" sizes=\"(max-width: 610px) 100vw, 610px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ab22b33 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ab22b33\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2bae704\" data-id=\"2bae704\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d7c838a elementor-widget elementor-widget-text-editor\" data-id=\"d7c838a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><em>* house, apartment, house and land package, off-the-plan, etc.<\/em><\/p><p><em>** renovation works must be to improve the accessibility, safety and liveability of the dwelling. It cannot be for additions to the property (such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages (unconnected to the property).<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-66f16ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66f16ac\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2ee8d29\" data-id=\"2ee8d29\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1a00d8a elementor-widget elementor-widget-text-editor\" data-id=\"1a00d8a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">If you own or have purchased land but have not signed a contract to build your home, you may meet the eligibility criteria if you:<\/p><ul><li style=\"text-align: justify;\"><strong>Own a property (house and land), and knock down the house to rebuild<\/strong> \u2013 this will be counted as a substantial renovation, and therefore subject to the renovation price range of $150,000 to $750,000 provided the total value (house and land) of the property does not exceed $1.5 million pre-renovation;<\/li><li style=\"text-align: justify;\"><strong>Own vacant land<\/strong> before 4 June 2020, and then build, the total value of the land and new build cannot exceed $750,000; or<\/li><li style=\"text-align: justify;\"><strong>Buy the land after 4 June 2020<\/strong>, and then build, the total value of the land and build cannot exceed $750,000.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7d7f0a9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d7f0a9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e73cfb0\" data-id=\"e73cfb0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3ff5c14 elementor-widget elementor-widget-heading\" data-id=\"3ff5c14\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Integrity measures and pricing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6044017 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6044017\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-af44fbe\" data-id=\"af44fbe\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24234fd elementor-widget elementor-widget-text-editor\" data-id=\"24234fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">Building contracts must be at arms-length, that is, the parties cannot be related or connected.<\/p><p>Renovations or building work must be undertaken by a registered or licenced building service &#8216;contractor&#8217;\u00a0(depending on the state or territory you live in) and named as a builder on the building licence or permit.<\/p><p>When it comes to price, the terms should be commercially reasonable, and the contract price should not be inflated compared to the fair market price. The rules enable the purchaser to request that the builder demonstrate that the contract price for the new build or substantial renovation is no more than a comparable product (measured by quality, location and size) as at 1 July 2019.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eaff343 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eaff343\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2ccb3ca\" data-id=\"2ccb3ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-32cb339 elementor-widget elementor-widget-heading\" data-id=\"32cb339\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Interaction with first home owner grant schemes<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d05daa2 elementor-widget elementor-widget-text-editor\" data-id=\"d05daa2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">The HomeBuilder grant does not exclude first home buyers from accessing other grants and concessions such as the First Home Owner Grant, stamp duty concessions, the First Home Loan Deposit Scheme, and First Home Super Saver Scheme.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-31f569a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"31f569a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-764ec6e\" data-id=\"764ec6e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53620f9 elementor-widget elementor-widget-heading\" data-id=\"53620f9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">HomeBuilder Grant problem areas<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e807eb5 elementor-widget elementor-widget-text-editor\" data-id=\"e807eb5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">As the building contract is entered into before the grant is approved, it will be important that the grant is not essential to finance the building project, just in case the grant is not approved.<\/p><p style=\"text-align: justify;\">In addition, as the builder needs to commence work within three months of the contract date, it will be important to ensure that the contract recognises the commencement dates.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7e070f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7e070f5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3bdb0d6\" data-id=\"3bdb0d6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-20271cc elementor-widget elementor-widget-heading\" data-id=\"20271cc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-xl\">How can Walsh Accountants help? <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c80831d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c80831d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d6b49a8\" data-id=\"d6b49a8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a908576 elementor-widget elementor-widget-text-editor\" data-id=\"a908576\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\">Once again, our team have mobilised to learn all there is to know about this grant so we can assist our clients should they be in a position to make an application for this grant.\u00a0<\/p><p style=\"text-align: justify;\">For any businesses in the building and construction industry, this is a prime opportunity that managed effectively; will provide a great opportunity an influx of work and growth for the business. As time to capitalize on this opportunity is limited, our <a href=\"https:\/\/www.walshaccountants.com\/our-teams\/walsh-property-construction\/\">Property and Construction<\/a> team are here to assist any business to handle the flow on effect and cope with the extra demand this grant may bring.\u00a0\u00a0<\/p><p style=\"text-align: justify;\">For an obligation free discussion, <a href=\"https:\/\/www.walshaccountants.com\/contact\/\">contact us today<\/a>.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5327,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[14,64,66],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HomeBuilder Grant: What is it and how do you access it? | Walsh Accountants<\/title>\n<meta name=\"description\" content=\"The Government has announced The HomeBuilder grant - up to $25,000 to encourage people to build a new home or substantially renovate their existing home.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.walshaccountants.com\/homebuilder-grant-what-is-it-and-how-do-you-access-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HomeBuilder Grant: What is it and how do you access it? 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