Latest news on the HomeBuilder Grant
Updates to the Victorian HomeBuilder Grant were released this week. In light of the introduction of Stage 4 restrictions in metropolitan Melbourne and Stage 3 restrictions in regional Victoria there is an extension of 3 months to the construction commencement requirement for the HomeBuilder Grant.
This means that all applicants for the HomeBuilder Grant in Victoria have 6 months from the signing of the eligible HomeBuilder contract, to commence construction.
“It really is fantastic news for those Victorians who were going to miss out on this scheme. We believe it will drive even more buyers into the market.” Paul Millson, Sales & Marketing Director said. “We have some impressive Town Homes in Epping that are an ideal solution for buyers applying for the Grant.”
All eligibility criteria will remain the same
To be eligible, you must meet the income cap (less than $125,000 per annum for an individual applicant and less than $200,000 per annum for a couple) and the total property value of your build (both house and land) must be less than $750,000.
The grant will be available from 4 June until December 31, 2020. This means that all applicants for the HomeBuilder Grant in Victoria have 6 months from the signing of the eligible HomeBuilder contract, to commence construction (this was previously 3 months).
For more details on eligibility requirements view the government’s fact sheet.
How to apply
Applications for the Homebuilder grant are made to your State or Territory revenue office. You will need to complete the application process and provide the following information to apply:
- Proof of identity
- A copy of your signed build contract with Orbit Homes
- A copy of Orbit’s registration licence
- A copy of your 2018-19 (or later) tax return
- Council approvals and evidence of land value.
Good news for Queensland residents too!
Orbit Homes has a limited number of site starts available to allow you to secure the HomeBuilder Grant.