The Australian Government has announced the HomeBuilder initiative, a time-limited, tax-free grant program to help the residential construction market to get through the coronavirus (COVID-19) pandemic.

What is HomeBuilder?

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. The contract must be signed between 4 June 2020 and 31 December 2020 and construction must commence within three months of the contract date.

Home owners will be able to apply for HomeBuilder through their state or territory. Information on when and how to apply will become available through State or Territory revenue offices soon.

When your state or territory begins accepting HomeBuilder applications, they will backdate acceptance of applications to 4 June 2020.

What does it mean for the construction industry?

HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year.

Find out more about HomeBuilder.