On 29 November 2020, the Australian Government announced an extension to the HomeBuilder program to 31 March 2021, with a number of changes to the grant amount and criteria. This means you do not need to submit your application by 31 December 2020.
- 4 June 2020-31 December 2020 — enter into a contract to build or renovate between these dates to be eligible for the $25,000 grant.
- 1 January 2021-31 March 2021 — enter into a contract to build or renovate between these dates to be eligible for the $15,000 grant.
While all applications must be submitted by 14 April 2021, it does not mean that all supporting documents must be uploaded by then. You can continue uploading your supporting documents, as they become available, beyond 14 April 2021.
The information below, which relates to applications where a contract is signed between 4 June 2020 and 31 December 2020 (inclusive), will be updated once the Australian Government provides more detailed information about the changes announced on 29 November.
Changes to the HomeBuilder program include:
- A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
- An extended deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
- An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
- An increase to the property price cap for new build contracts in New South Wales and Victoria to $950,000 and $850,000, respectively, where the contract is signed between 1 January 2021 and 31 March 2021, inclusive.
- The existing new build property price cap of $750,000 will continue to apply in all other States and Territories.
- A change in licensing requirements and registration for builders and developers, as below
- Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020.
- Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020.
Other than the above, the existing program criteria applies. That is, the other existing eligibility criteria remains in place and the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.