Changes to the HomeBuilder Grant
Construction commencement timeframe extended
In response to the Covid-19 pandemic, the Federal Government implemented a number of initiatives to stimulate the economy. One of these initiatives was the HomeBuilder Grant which was launched from 4 June 2020.
Over the weekend, the Government announced some important changes to the construction requirements for the Grant.
They’ve announced that the construction commencement deadline for all existing applications will be extended from 6 months to 18 months. The extension gives applications an additional 12 months to start substantial construction of their home!
The extension has been put in place to relieve unexpected pressure on the supply chain for the construction industry which has been impacted by both Covid-19 and natural disasters that have gripped Australia.
While applications closed on 14 April this year, applicants will now have until 30 April 2023 to submit all the necessary supporting documentation.
To read the Media Statement from Treasurer, Josh Frydenberg, follow this link.
