Federal Government Home Builder Grant

June 4, 2020 commences the Federal Government Home Builder Scheme which runs from today until 31st December, 2020. This scheme is additional to any FHOG grants or stamp duty concessions offered by the State Government.   A quick break down of the grant is below.  If you  need more information please feel free to contact our office on 5977 7766

  1. Grant of $25,000.00 is applicable to any new build for contracts entered into from today (June 4, 2020 to 31st December 2020)
  2. Construction of any dwelling must commence within 3 months of contract – so would need to purchase title land)
  3. Grant is income tested so an individual can earn up to $125,000.00 and a couple $200,00000 based on your tax return for the 2018/2019 year.
  4. The total cost of land and dwelling cannot exceed $750,000.00
  5. The grant is also applicable for off the plan purchases
  6. If you already own land and enter into a building contract you will be eligible for the grant.
  7. Grant is only for owner occupied properties.
  8. First Home buyers still currently receive the $10,000.00 First Home Owners Grant.
  9. No stamp duty is still applicable for first home buyers upto $600,000.00 land value.
  10. Pensioners and concession card holders will still receive stamp duty concessions/exemptions from the State Government at this stage
  11. Principal place of residence stamp duty discount will still apply.