Home grants scheme is extended
New home builders or renovators have been given a three-month reprieve for HomeBuilder grants but at a lower amount.
New home builders or renovators rushing to access a HomeBuilder grant before the end of the year have been given a three-month reprieve under changes to the federal government’s stimulus scheme — but at a lower rate.
The government anticipates the extension to March 31 will support the construction or major rebuild of about 15,000 additional homes while also easing application bottlenecks.
Scott Morrison said HomeBuilder — announced as part of the Economy Recovery Plan for Australia — had helped protect the jobs of one million Australians employed in the construction sector.
“It’s critical we keep the momentum up for Australia’s economic recovery,” the Prime Minister said.
Under the existing scheme, eligible owners wanting to build a new home, substantially renovate an existing home or buy an off-the-plan home have until December 31 to apply for a grant worth $25,000.
But under the extension, eligible owner-occupier purchasers will receive only a $15,000 HomeBuilder grant for all new build contracts signed between January 1 and March 31, 2021.
The Sunday Telegraph
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