Blog Layout

Applications now open for $25,000 HomeBuilder grant in all states

MoneySmithGroup • Aug 12, 2020
A Woman Speaker — Financial Advisor in Kingscliff, NSW

 

It’s been two months since HomeBuilder was first announced, and I’m sure many of us spent a bit of that time dreaming about an extra $25,000 to spend on a reno or new home. The good news is grant applications are now officially open.


All states have now opened application channels (see below) for the federal government’s new HomeBuilder grants, with ACT the only government yet to provide an application form (however you can register online).

Back up, what’s the $25,000 HomeBuilder scheme?

The federal government scheme aims to assist Australians who want to buy a new home or begin work on eligible renovations by providing them with a $25,000 tax-free grant.


The scheme was announced as part of the federal government’s economic response to the coronavirus pandemic, with the stated aim of supporting more than 1 million builders, painters, plumbers and electricians across the country.



While many of the eligibility details were quickly revealed, there has been one key problem since the announcement of the scheme back in early June: there has been no way of actually applying for a grant.

But, there is now.

Here’s how to apply for a HomeBuilder grant in each state

New South Wales: Revenue NSW is now accepting applications online. For more information on eligibility and the process, visit: www.revenue.nsw.gov.au/grants-schemes/homebuilder


Victoria: State Revenue Office Victoria is accepting applications online. For more details on eligibility visit: www.sro.vic.gov.au/owning-property/australian-homebuilder-grant


Queensland: In Queensland the Office of State Revenue is taking applications. For more info: www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/homebuilder


Western Australia: For those in the west, Revenue WA is the place to submit your application. For more info visit: www.wa.gov.au/service/community-services/grants-and-subsidies/apply-new-home-construction-grant


South Australia: The South Australian Revenue Office is accepting applications. For more details visit: https://www.revenuesa.sa.gov.au/grants-and-concessions/homebuilder-grant


Tasmania: For those in the apple isle, The State Revenue Office of Tasmania is handling applications. You can visit: www.sro.tas.gov.au/Documents/HomeBuilder-grants-guideline.pdf


Northern Territory: The Northern Territory Revenue Office is now accepting applications. For more details visit: https://treasury.nt.gov.au/dtf/territory-revenue-office/homebuilder-grant



ACT: As mentioned, the ACT is yet to provide an application form, however you can register online. For more info visit: https://www.revenue.act.gov.au/covid-19-assistance/homebuilder-grant

Get in touch

So, that’s how you can apply for the HomeBuilder scheme. If you’re keen to proceed, the next thing to tackle is financing the project.


And that’s where we can help.


If you’d like a hand obtaining finance to pay for the new home or reno you’ve been dreaming of, get in touch with us today – we’re here to help make your HomeBuilder dreams a reality.


Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

By Money Smith Group Blogs 19 Apr, 2024
Here’s why it pays to remember it
By Money Smith Group Blogs 11 Apr, 2024
Have you looked into rentvesting?
By Money Smith Group Blogs 11 Apr, 2024
How much equity do you have in your home?
By Money Smith Group Blogs 28 Mar, 2024
Here’s how to strike the right balance
By Money Smith Group Blogs 21 Mar, 2024
Time to roll up the sleeves?
15 Mar, 2024
Want to pay off your home loan sooner?
By Money Smith Group Blogs 07 Mar, 2024
Turnaround times have reached record speeds at some banks
By Money Smith Group Blogs 29 Feb, 2024
Here’s how to potentially narrow your search
By Money Smith Group Blogs 23 Feb, 2024
More choice for house hunters
By Money Smith Group Blogs 15 Feb, 2024
Ever thought about becoming a property investor yourself?
More Posts
Share by: