HomeBuilder applications now open in Queensland
The Queensland Government has opened applications for the $25,000 HomeBuilder grant.
While an initiative of the Australian Government, each State and Territory is required to administer the grant through its own Office of State Revenue.
Since its announcement, the Property Council has worked closely with the Queensland Office of State Revenue to clarify how it will define key criteria in its implementation of the scheme.
Commencement has been defined as:
- New home- commencement of excavation and site preparation works
- Off-the-plan home- commencement of excavation and site preparation works
- Substantial renovation- when building work under the renovation contract starts
Extension to timeframes
The Australian Government updated initial advice on HomeBuilder to allow applicants to access a 3-month extension to the grant due to unforeseen delays. The Queensland application form provides little clarity on what will be considered an acceptable delay:
Construction must commence within 3 months of the contract date. An extension of 3 months may be allowed if commencement is delayed because of unforeseen factors outside of the parties’ control. An example that does not qualify are delays encountered by the builder.
Off-the-Plan and New Builds
The Queensland application form notes that for off-the-plan or new home contracts, construction can have commenced before the date of contract, but not before 4 June 2020. Applicants must also be registered on title as the owner of the property by no later than 31 October 2022.
General eligibility criteria
- Principal place of residence for new home builds (up to $750,000) or substantial renovation to existing home ($150,000 - $750,000)
- Available for contracts signed between 4 June - 31 December 2020
- Construction must commence within three months of signing contract
- Applicants must be a natural person, 18 or older and an Australian citizen
- Income must be less than $125,000 for an individual or $200,000 for a couple.
The scheme is time-limited (4 June-31 December 2020), uncapped and demand driven. Grants are non-taxable. For first home owners, it can be accessed in addition to the Queensland Government’s existing $15,000 First Home Owners’ Grant and $5,000 Regional Home Building Boost.
Further information and HomeBuilder application forms can be found here.