HOMEBUILDER GRANT:
The Federal Government has kickstarted economic recovery with the new HomeBuilder grant.
Eligible owner-occupiers will be able to access a grant of $25,000 to build a new home (up to $750,000) or substantially renovate an existing home (contract between $150,000–$750,000).
In addition to this, first home buyers in Queensland will still be able to access the existing $15,000 First Home Owners’ Grant – giving them a $40,000 total package.
Eligibility will be means-tested and building contracts must be signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date. ‘House and land’ packages and off-the-plan developments are also eligible, provided construction did not commence before 4 June 2020.