4D DOORS News
HomeBuilder Scheme - $25 Home Owner-Occupier Grant
The full details of the Morrison Government's highly anticipated new HomeBuilder grant to support the Australian Economy have been revealed today
With the incredible announcement from the Australian Government today to further support the economy through the HomeBuilder Grant, 4Ddoors as well as many other Australians were left with questions of what this exactly means and looks like for the Construction Industry.
To be eligible for the HomeBuilder grant, owner-occupiers must meet the following criteria:
- - Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
- - Be on an income of less than $200,000 for couples, and $125,000 for singles.
- - Be spending between $150,000 and $750,000 on a renovation for a home that has been previously valued at less than $1.5 million.
- - Be building a new home worth less than $750,000 (this includes land value).
The HomeBuilder scheme does include all dwelling types such as houses, apartments, house and land packages, off the plan and more. However, the grant will not apply to owner-builders or those who are planning on building a new dwelling or renovating an existing home as an investment property.
The HomeBuilder package is targeted to assist all owner-occupiers, not just first home buyers. For renovations to existing properties, the renovation works must be to improve the accessibility, safety and liveability of the dwelling. It cannot be for external additions that are unconnected to the property such as swimming pools, tennis courts, outdoor spas and saunas or sheds.
While some media reports have mentioned garages in the excluded renovations list, the HomeBuilder FAQ Sheet avaliable at The Treasury - HomeBuilder webpage states that only garage that are unconnected to the property are not eligible. Garages that are connected or part of a property building are at this time included in the package if the renovation is to improve the accessibility, safety and liveability of the dwelling.
A key area of the HomeBuilder Package is that renovations must be completed by a registered or licenced building service 'contractor' (depending on the state or territory you live in) and named as a builder on the building licence or permit.
For access solutions businesses (garage doors, gates, entrance doors and internal doors), it is unsure how and if the HomeBuilder scheme will offer support to the essential products and services they provide. Every home has some form of access, whether it be an adjoining garage or a simple front entrance door, that provides safety and security to Australian homes and families.
As the details of the scheme have only been announced in the last 24 hours, there will likely be more information to come from the Australian Government. 4Ddoors will continue to monitor the announcements from the Australian Government for further details and how it may relate to, or effect access solutions businesses.
4Ddoors has verified the following information as on 4th June 2020 with the Australian Government – The Treasury website. You can view full details of HomeBuilder Grant through the Treasury Website with the HomeBuilder Fact Sheet or HomeBuilder FAQs Sheet.