Revenue Nsw Renovation Grant

The australian government has announced a 25 000 grant in the wake of the covid 19 pandemic to stimulate the construction industry and create more jobs for tradies.

Revenue nsw renovation grant. Homebuilder provides eligible owner occupiers including first home buyers with a grant of 25 000 to build a new home or substantially renovate an existing home. Revenue nsw is working to open the homebuilder grant for eligible nsw owner occupiers as soon as possible. Even the cheapest renovation eligible for the scheme 150 000 would require a grant recipient to spend at least 125 000 of their own money meaning the scheme is most likely to be accessed. Ryan and emma pay the builder 10 000 to commence renovation of their home on 2nd february 2021.

New south wales nsw queensland qld western australia wa. All about the 25 000 government renovation grants. You must notify revenue nsw and repay the homebuilder grant within 14 days of the date you become aware you cannot meet the residency requirement. A substantial renovation the grant will be paid after construction has commenced and evidence is submitted showing payments of at least.

Rgba 56 90 126 0 3 th lg blue background color. To find out more about the homebuilder program and eligibility visit revenue nsw. Revenue nsw may require that applicants provide information to verify that they have met the residence requirement. The homebuilder grant will give average eligible aussies 25 000 towards their home renovations or new house build.

Homebuilder grant the australian government s homebuilder grant provides eligible owner occupiers with a 25 000 grant to help build new homes or make substantial renovations to existing homes. Homebuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations. Homebuilder will complement existing state and territory first home owner grant programs stamp duty concessions and other grant schemes as well as the commonwealth s first home loan deposit scheme and first home super saver scheme. The 25 000 grant is availble to people executing a renovation with a projected cost between 150 000 and 750 000 and for new builds less than 750 000.

The revenue office approves the application and submits the financial contribution directly to the couple.