Updated: Jan 4
03 December 2020
Following the overwhelming interest in the HomeBuilder program, the Australian Government has announced its extension to 31 March 2021 with further updates to eligibility and grant requirements. For more general information about the HomeBuilder program, please see our previous publication: HomeBuilder applications are open... What does this mean for your projects?.
So, what has changed?
Firstly, the HomeBuilder program has been extended to new contracts signed from 1 January 2021 to 31 March 2021.
There have also been changes to the details of the program itself, in particular:
For building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, the HomeBuilder grant amount is $15,000.00.
The deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant, has been extended to 14 April 2021.
The construction commencement timeframe has been extended from three (3) months to six (6) months for all applications.
In relation to the licencing requirements for both builders and developers:
For building contracts signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020; or,
For building contracts signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020.
For further details of the changes and updated requirements, the Australian Government’s complete announcement can be found here.
But what if I have a contract that is already signed (or will be signed before the end of the year)?
Apart from the above changes, the existing program criteria will still apply. This means that, among other things, the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.
How we can help?
If you would like to discuss the eligibility of your project for the HomeBuilder program or how the above changes may impact your eligibility, Shand Taylor Lawyers’ experienced development team are here to assist you.
Matthew Shannon, Partner
(07) 3307 4506
Patrick Sherlock, Senior Associate
(07) 3307 4542