AusFinance Gazette

Applications now open for the HomeBuilder grant, but blink and you’ll miss it

What would you spend the extra $25,000 on for your home?

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.

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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: http://www.revenue.nsw.gov.au/grants-schemes/homebuilder

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

Queensland: In Queensland the Office of State Revenue is taking applications. For more info: http://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: http://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:  http://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.

RBA cuts rates to 0.25%

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