Registrations now open!
Registration forms from the Tasmanian State Revenue Office are now available for prospective applicants. To access these forms go to: https://www.sro.tas.gov.au/resources/forms
The latest HomeBuilder Grants Guide can be found HERE
On June 4th the Federal Government announced a stimulus package for the residential building sector that Master Builders Australia has spent the last 2 months advocating for. This is a major win for Master Builders Associations around the country which have strongly supported the campaign for a federally funded stimulus package complemented by state stimulus. The announcement includes the HomeBuilder scheme which will provide eligible owner-occupiers (not just first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home.
The Tasmanian State Government has committed to build on the current infrastructure package of $1.8 billion over the next two years, and in total will support an estimated construction value of $3.1 billion across the next two years. The announcements include an extension of the Home Builder Grant, making the $20,000 grant available to all owner occupier new home builds for contracts entered into from today until the end of 2020.
In order to alleviate some of the confusion around the two different grants, we have provided some information below and quick links to help you through the process.
For guidelines and eligibility criteria, please visit:
Tasmanian HomeBuilder: https://www.treasury.tas.gov.au/about-us/tasmanian-homebuilder-grant
Tasmanian First Home Owner Grant: https://www.sro.tas.gov.au/first-home-owner
Commonwealth HomeBuilder: https://treasury.gov.au/coronavirus/homebuilder
Combining the Federal and State Government grants means there is a massive $45,000 available for building a new home, regardless of if it’s your first or your 10th house.
HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations.
You will be able to apply for HomeBuilder when the relevant State or Territory Government that you live in, or plan to live in, sign the National Partnership Agreement with the Commonwealth Government.
Information about what Homebuilder will mean for the construction industry is available on https://treasury.gov.au/coronavirus/homebuilder or by contacting 13 28 46. Please keep in touch with business.gov.au for updated State and Territory information as it becomes available.
The updated FAQs as at 18 June 2020 are available at – HomeBuilder FAQs
AM I ELIGIBLE TO RECEIVE HOMEBUILDER?
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
- you are a natural person (not a company or trust);
- you are aged 18 years or older;
- you are an Australian citizen;
- you meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later;
- you enter into a building contract between 4 June 2020 and 31 December 2020 to either:
- BUILD – build a new home as a principal place of residence, where the property value (house and land) does not exceed $750,000;
- RENOVATE – substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property (house and land) does not exceed $1.5 million;
- construction must commence within three months of the contract date.
WHAT SORT OF DWELLING CAN I BUILD?
All dwelling types (house, apartment, house and land package, off-the-plan, etc) are eligible under HomeBuilder, in accordance with the requirement that the owner-occupier must contract to build a new dwelling or substantially renovate their existing dwelling.
WHAT RENOVATIONS CAN I DO ON MY HOME?
To be eligible for HomeBuilder, the value of renovations must be within the price range of $150,000 and $750,000, the total value of your existing house and land must not exceed $1.5 million, and construction must commence within three months of the contract date. Renovations must improve the accessibility, liveability and safety of the property. It cannot be for additions to the property such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages (unconnected to the property).
Owner-builders and those seeking to build a new home which will be used as an investment property, or renovate an existing home which is an investment property, will not be eligible for HomeBuilder.
The registered or licensed builder (depending on the state or territory) must demonstrate that the contract price for the new build or substantial renovation is no more than a comparable product (measured by quality, location and size) as at 1 July 2019, if requested by the purchaser.
The Government currently offers $20,000 to first home owners who build their own home or buy a house and land package. To support the building and construction sector the Government will make a $20,000 grant available to all owner occupier new home builds for contracts entered into from today until the end of 2020 and the build completed with eighteen months.
This will provide new owner-occupier home builders with $20,000 towards the cost of a new build or the purchase of new house and land package.
Detailed guidelines and eligibility criteria will be available on Tuesday 9 June 2020.
The State Revenue Office will be facilitating the Home Builder Grants and may be able to provide further details.
Details on the “Rebuilding Tasmania – Infrastructure Investment” plan can be found here.