Who is eligible for $25k HomeBuilder scheme?
By Elsa Hsieh, 5 June 2020
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:
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
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. |
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:
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。
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。
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:)