Who is eligible for $25k HomeBuilder scheme？
By Elsa Hsieh, 5 June 2020
Today, the Federal Government announced the latest news, confirming HomeBuilder Scheme for building the new home and home renovations, aimed at creating job opportunities, promoting economic recovery, and helping low- and middle-income households to buy their homes.
However, not everyone are eligible for the HomeBuilder Scheme. The conditions provided by the government are as follows:
Newly built houses:
- Must be an Australian citizen and aged 18 or older.
- Must be an owner-occupier, not investor.
- The applicant cannot be a company or a trust.
- Earn $125,000 or less in the 2018/19 financial year for individual or $200,000 or less for couples.
- All house types (apartments, townhouses, house and land packages, off the plan house, etc.) are included in HomeBuilder Scheme.
- The new home must be $750,000 or less (including land).
- Contracts must be entered into before December 31, 2020 (People who have already signed the contract before 4/6/2020 or already commenced are not qualified). Construction must commence within three months of the contract date.
House Renovation:
- Must be an Australian citizen and aged 18 or older.
- Must be an owner-occupier, not investor.
- The applicant cannot be a company or a trust.
- Earn $125,000 or less in the 2018/19 financial year for individual or $200,000 or less for couples.
- The amount of renovation is between $150,000 and $750,000.
- Cannot be used for the renovation unconnected to the principal place of residence (eg, swimming pools, tennis courts, outdoor spas and saunas, sheds or garages.)
- The renovation must be performed by a licensed builder and cannot be a relative of the homeowner.
- The renovated home that has been previously valued at less than $1.5 million.
- Contracts must be entered into before December 31, 2020 (People who have already signed the contract before 4/6/2020 or already commenced are not qualified). Construction must commence within three months of the contract date.
Frequently asked questions
HOW CAN I ACCESS HOMEBUILDER?
You should contact your relevant State or Territory authority on when and how to apply for HomeBuilder.
You will be able to apply for HomeBuilder when the Government of the State or Territory that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government.
IS A HOMEBUILDER GRANT TAXED?
No – a HomeBuilder grant will not be taxed. This is consistent with existing state and territory First Home Owner Grant programs.
WHAT DOCUMENTATION WILL I NEED TO PROVIDE?
The State or Territory revenue office will require certain documents to process your application. It is expected that you will need to provide the following at a minimum:
• proof of identity;
• a copy of the contract, dated and signed by you and the nominated registered or licenced builder;
• a copy of the builder’s registration or licence (depending on the state you live in);
• a copy of your 2018-19 tax return (or later) to demonstrate your eligibility against the income cap; and
• documents such as council approvals, building contracts or occupation certificates and evidence of land value.
Resourced from: https://treasury.gov.au
Case Study
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First home buyers Emma and Liam decide to purchase a house and land package Emma and Liam enter into a house and land contract for $550,000 on 25 September 2020. Emma and Liam’s bank applies on the couple’s behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant. The revenue office conducts the eligibility checks and reviews the couple’s documentation and confirms that both Emma and Liam are Australian citizens, over the age of 18, have a combined taxable income under $200,000 based on their 2018-19 tax return and the value of the contract is under the $750,000 contract price cap. As the couple are both first home buyers, Emma and Liam may also be entitled to their State’s First Home Owner Grant and stamp duty concessions as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme. |
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Owner-occupier Cassidy decides to substantially renovate her home Cassidy enters into a contract to substantially renovate her home on 31 December 2020, with renovations valued at $400,000. The value of her home is $900,000 (this includes the value of the house and the land). Cassidy pays the builder $10,000 to commence renovation of her home on 2 February 2021. Cassidy then applies directly to her State or Territory revenue office to receive the $25,000 HomeBuilder grant. The revenue office conducts the eligibility checks and confirms that Cassidy owns the property, is an Australian citizen, over the age of 18, and has a taxable income under $125,000 based on her 2019-20 tax return. The revenue office also confirms the value of the renovations is between $150,000 and $750,000, and the value of her home is less than $1.5 million and Cassidy has made the first progress payment on the renovations. The revenue office approves the application. As Cassidy already owns her own home, she is not eligible for the First Home Owner Grant, the First Home Loan Deposit Scheme or the First Home Super Saver Scheme. Resourced from: https://treasury.gov.au |
*Please note: The HomeBuilder Scheme will be uncapped!
Don’t forget that the first home buyers also have different first home buyer grants from each state government! This means if you are a first home buyer, with the $15,000 first buyer grant in Queensland, plus HomeBuilder Scheme, you can apply up to $40,000 from government incentives.
Midas Team will keep you updated for the government’s building incentives. Please do not hesitate to contact us on yoyo.chen@midasrealestate.com.au if you have any concerns and thank you for continuing to support us.
联邦政府就在今天发布了最新消息，确定了新建住宅和住宅翻修的激励措施(HomeBuilder Scheme)，$6.88亿的激励补贴目的在于创造就业机会，促进经济复苏并帮助中低收入户一圆房屋梦。
不过$2.5万的激励补贴并非给到所有人，要满足政府提出的条件：
新建房屋，条件为：
1. 必须是澳大利亚公民且已满18岁。
2. 不限首次购屋族！但必须是自住房，不能是投资房。
3. 申请者不能是公司或信托。
4. 个人收入不超过$12.5万，夫妻收入不超过$20万。
5. 所有房屋类型（公寓，联排，土地别墅套餐，楼花等）都符合HomeBuilder措施的资格。
6. 新建物业价值在$75万以内 （土地+盖房）。
7. 仅限于2020年6月4日至2020年12月20日期间签约的合同（已经签约或是已经在盖的不会获得补助）签订合同内的3个月必须开工。
装修，条件为：
1.必须是澳大利亚公民且已满18岁。
2. 不限首次购屋族！但必须是自住房，不能是投资房。
3. 申请者不能是公司或信托。
4. 个人收入不超过$12.5万，夫妻收入不超过$20万。
5. 装修金额在$15万-$75万之间。
6. 不能用于与房屋不相连的装修（例如游泳池，网球场，室外水疗中心和桑拿浴室，户外棚子等）。
7. 必须要由有执照的建筑工来执行，并且不能是房主的亲属。
8. 装修房屋原来的价格不能超过$150万。
9.仅限于2020年6月4日至2020年12月20日期间签约的合同（已经签约或是已经在盖的不会获得补助）签订合同内的3个月必须开工。
常见Q&A:
您应该要与您所在的州/领地当局政府联系。
当您居住或计划居住的州或领地政府与英联邦政府签署《国家合作协议》时，您将可以申请HomeBuilder补助。
否- 这是现有的州和领地“首次置业补助计划”的一样。
州或领地税收局将要求某些文件来处理您的申请。您至少需要提供以下内容：
•身份证明;
•合同副本，由您和指定的注册或许可建造商签署并注明日期；
•建筑商注册或许可证的副本（取决于您所居住的州）；
•您的2018-19年度纳税申报表（或更新版本）的副本，以证明您符合收入上限的资格；
•文件，例如议会批准书，建筑合同或职业证明以及土地价值的证据。
案例分析：
Emma和Liam于2020年9月25日签订了房屋和土地合同，价格为$55万。Emma和Liam 这对夫妇的银行向相关的州或领地税收局提出HomeBuilder$2.5万补助申请。税务局将进行资格检查并审查这对夫妇的文件，并确认Emma和Liam均为澳大利亚公民，年龄在18岁以上，根据其2018-19年度纳税申报表和合同价值，他们共同收入低于$20万，其土地房屋也低于$75万。由于这对夫妇都是首次购房者，Emma和Liam也可能有权获得其州的首次购房者补助金和印花税优惠，以及首次购房贷款存款计划和首次购房者养老金储蓄计划。
Cassidy 签订了一份合同，于2020年12月31日对她的房屋进行大规模翻新，装修价值为$40万。她的房屋价值为$90万(包括房屋和土地的价值)。Cassidy 向建商支付了$1万，以便于2021年2月2日开始对其房屋进行翻新。然后，Cassidy直接向她的州或领地税收局提出申请，获得$2.5万的HomeBuilder补助。
税务局进行资格检查，并确认Cassidy拥有该物业，是一名澳大利亚公民，年龄在18岁以上，根据她的2019-20年度纳税申报表，其应税收入低于$12.5万。税务局还确认翻新工程的价值在$15万至$75万之间，她的房屋价值不到$150万元，Cassidy已为翻新工程支付了第一笔进度款。税务局批准该申请。
由于Cassidy已经拥有了自己的房屋，因此没有资格获得“首次购房者补助金”，“首次购房贷款存款计划”或“首次购房者养老金储蓄计划”。
别忘了首次购屋者另有各州政府的额外补助喔！
这项新政是不是很吸引人呢！若您是首次购屋族，搭配昆州的额外补助＄15000澳元，再加上这次激励措施，您最高可以受到政府补助＄40000澳币呢！这也太吸引人了吧！
外传「各洲政府」下周会另有一个新建房补助，每洲不太一样，昆州消息一发布确认后会再为您补上：）