“It’s a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market….”
Author: Ashley Evans
Over the past couple of days, we’ve had plenty of interest from the north west Queensland community around the Federal Government’s HomeBuilder program.
Essentially, it’s a $25,000 grant for eligible owner-occupiers (including first home buyers) aimed at supporting the residential construction market through the COVID-19 economic recovery. It’s also a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market.
We’re encouraging those who are interested in the program to start looking at applying sooner rather than later. The grants have a life span of just seven months- for those with eligible applications and contracts signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.
In good news, HomeBuilder in uncapped- meaning the pool of money won’t run out before the December deadline arrives, as we have seen with other grants recently.
There is eligibility criteria that includes:
- you are a natural person (not a company or trust);
- you are aged 18 years or older;
- you are an Australian Citizen;
- you meet one of the following two income caps:
– $125,000 per annum for an individual application based on 2018-2019 tax return or later; or
– $200,000 per annum for a couple based on both 2018-2019 tax return or later; and
- you enter into a contract signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.
The trusted team of Advisors at AAA Consulting can assist you in the application process.
Please contact our team on 07 4779 0662 for more information.