$25K HomeBuilder Grant
A buyer who:
- Is an owner occupier. This includes first home buyers, upsizers and downsizers. All purchasers must occupy the property as the principal place of residence for the first 6 months immediately upon settlement.
- Meets the following criteria:
- Buys as person (not a company or trust)
- Is aged 18 years or older
- Is an Australian Citizen
- Earns up to $125k p.a. as a single applicant based on the 2018-19 (or later) taxable income
- Earns up to $200k p.a as a couple based on both 2018-2019 taxable incomes
- Purchases a property for $750,000 or under.
Which projects are eligible?
Off-plan apartment/townhouses qualify provided they meet the following criteria:
- An eligible contract has been signed between June 4th & December 31st 2020
- Construction does not need to have started before December 31st, but it must commence within 3 months of the contract sign date.
- Construction must not have commenced before 4 June 2020.
- Construction must be complete before 31 October 2022.
When is the grant paid?
- The $25k HomeBuilder Grant application can only be submitted after the property has settled.
- The $25,000 is paid once the ACT Revenue Office approves your application and after settlement on the property, with your name registered on the certificate of title.
You can find more information and the application forms here.
Current eligible purchasers and what they’re planning to do with their $25,0000
30 years old
Salary: $120k p.a.
1 bedroom apartment in Kiara to live in, his second property
How Nick will use the $25k HomeBuilder Grant:
Once Nick settles on Kiara he will use the $25k grant as a deposit for his next family home.
Mildred and Keith
66 and 68 years old
2 bedroom apartment in Merakai to downsize from their current family home
How they will use the $25k HomeBuilder Grant:
Mildred and Keith will gift the $25k grant to their daughter so she can buy her first home.
18 years old
Salary: $75k p.a.
1 bedroom apartment in Oaks to live in as a first home buyer
How Dom will use the $25k HomeBuilder Grant:
Dom will use the $25k grant to cover his mortgage repayments for up to 5 years.
26 years old
Salary: $85k p.a.
2 bedroom apartment in Otto to live in as a first home buyer
How Meg will use the $25k HomeBuilder Grant:
To buy furniture to fill her new home.
Disclaimer: Independent has gathered information from treasury.gov.au. While all due care has been taken in assembling this document, the information is subject to change. This document is for the guidance of the purchasers only. Interested parties should make their own enquiries and satisfy themselves in all respects.
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