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This video is intended as a guide only. We recommend you seek independent advice about the HomeBuilder Grant for you and your circumstances.
Applications for the HomeBuilder Grant have closed.
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The Australian Government’s HomeBuilder Grant provides eligible owner-occupiers with a Grant towards building a new home for themselves, [chimes], buying a brand new home or substantially renovating an existing home.
It can’t be used for investment properties or holiday homes.
[chime] The grant amounts available are $25,000 where the contract is signed between 4 June and 31 December 2020 or $15,000 where the contract is signed between 1 January and 31 March 2021.
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To be eligible for the HomeBuilder Grant, all applicants must [sound of a texta writing] be a natural person (so not a corporation or a trust), [sound of a texta writing] be 18 years or older at the contract date, [sound of a texta writing] be an Australian citizen and [sound of a texta writing] your taxable income needs to be below $125,000 if you’re applying as an individual or below $200,000 combined for a couple [sound of a texta writing to tick off the four points].
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Your income will be taken from your 2018-19 or 2019-20 Notice of Assessment issued by the Australian Taxation Office. If you don’t lodge tax returns, you will need to show this by providing evidence of a nil return or your non-lodgement advice [background phone and typing noise stops].
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Individuals or couples may apply. You can see the definition of ‘couple’ on our website.
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You must live in the home for a continuous period of at least 6 months to qualify. You need to either move in immediately after your substantial renovations are completed, or within 12 months of construction completing for new builds, or within 12 months of being listed on the certificate of title if you are buying a new home or an off-the-plan home. [truck starting and driving off]
Your contract also needs to meet specific criteria, with the names of the individual or the couple of the certificate of title matching the names on the contract [sound of 2 stamps] and on the application for the HomeBuilder Grant.
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[pages turning] Your contract must be entered into from 4 June 2020 to 31 March 2021 to either build a new home, buy a brand new home or an off-the-plan home or to substantially renovate a home which you’ll live in.
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And applicants can’t have previously received the HomeBuilder Grant anywhere in Australia.
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You and your building contractor need to have negotiated the contract at “arm’s length”, which means that the contract needs to be commercially reasonable. [sound of stamp]
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If you are building your new home, the property value once built must not exceed $750,000. The property value includes the land and the building. The $750,000 cap also includes a home you are buying off-the-plan or if you are buying a new home that has never been anyone else’s home.
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As long as construction commenced on or after 4 June 2020. If construction commenced before that date, you won’t be able to claim the HomeBuilder Grant for that property.
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If you are substantially renovating an existing home, the value of the property before the renovation must be $1.5 million or less and the renovation contract needs to be valued between $150,000 and $750,000.
Payment of the HomeBuilder Grant for substantial renovations can only be made after you have paid at least the first $150,000 worth of invoices from the builder. [sound of stamp]. RevenueSA will need evidence that you’ve made payment.
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The work needs to substantially alter the existing home, but doesn’t necessarily need to include [small ‘bip’ sounds] removing or replacing foundations, walls, floors, the roof or staircases. The work needs to improve the accessibility, safety or liveability of the home.
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A knockdown rebuild is a substantial renovation for the HomeBuilder Grant [sound of home collapsing].
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Work that doesn’t qualify as a substantial renovation includes standalone granny flats, swimming pools, tennis courts and structures that are not connected to the property, like outdoor spas and saunas, sheds and standalone garages. It also doesn’t include landscaping.
[clock ticking] The time window that construction needs to commence in is on or after 4 June 2020 and within 18 months of the contract signing date. [alarm clock ringing]
You can read more about the HomeBuilder Grant, including specifics about eligibility and how to apply on our website: revenuesa.sa.gov.au/HomeBuilder.
You can also find more information on the Australian Government’s Treasury site at treasury.gov.au/coronavirus/homebuilder.
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More information can be found at www.revenuesa.sa.gov.au/homebuilder.