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The Federal Government has today announced a Construction Stimulus Package that’s designed to keep builders in business.
The HomeBuilder package provides grants of $25,000 to owner-occupiers (including first home buyers) to build new homes or to complete renovations on their existing home.
Eligibility basics include:
- No companies or trusts
- Aged 18 years and over
- Australian citizen
- Income capped at $125,000 per annum for an individual (2018-19 tax return)
- Income capped at $200,000 per annum for a couple (2018-19 tax return)
- You must enter into a contract between June 4 and December 31, 2020
To apply, you must build a new home valued at under $750,000.
Finally, construction needs to commence within three months of the contract date.
The scheme is not available for investors!
The HomeBuilder grant is non-taxable.
If you want to find out more and to find out how our pre-fab, factory-built modular homes are benefiting from this incentive, get in touch with the team at Uniplan Group today.
Find out more below
Economic Response to the Coronavirus - Homebuilder