On 4 June 2020, the Government announced it was introducing the HomeBuilder Scheme. Under this scheme, eligible owner-occupiers are able to receive a grant of $25,000 to build a new home or substantially renovate an existing one.
The contract must be signed between 4 June 2020 and 31 December 2020 and construction must have commenced within three months of the contract date.
HomeBuilder will be implemented via a National Partnership Agreement with State and Territory Governments. This approach will utilise existing State and Territory mechanisms to distribute the HomeBuilder payments. Information on when and how to access HomeBuilder will become available through the relevant State or Territory.
On 23 July 2020, the Government released a Frequently Asked Questions fact sheet dealing with the application process, eligibility criteria, new builds and substantial renovations.
For more details
Please refer below for the links to the following Treasury fact sheets.
Homebuilder (18 June 2020)
Homebuilder FAQs (23 July 2020)