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The Australian Government Implements a Property Stimulus Grant Scheme

The Morrison Government will begin implementation from 12:00 am on 4 June, offering a cash grant scheme for new homes, providing a A$25,000 cash grant for newly built homes and renovated existing homes.


Eligible applicants:

1. Aged 18 or over, an Australian citizen;

2. Purchasing a new home or renovating an existing home

3. Singles with an annual income of no more than A$125,000, or couples with a combined household income of no more than A$200,000


Homes meeting the following conditions can apply for this grant:

  1. The price of a newly built home must not exceed A$750,000 (including the land price);

  2. For a renovated existing home, the total cost of the renovation must be between A$150,000 and A$750,000, and the value of the home must not exceed A$1,500,000;

  3. Renovation works do not include: swimming pools; tennis courts; outdoor spas; saunas; sheds and garages, and other additions unrelated to the main residence.

Prime Minister Scott Morrison said HomeBuilder will save jobs. He said: “This is about using the existing system to deliver targeted taxpayer support over a limited time, to ensure this money reaches families seeking a bit of extra help to make a significant investment of their own.” He said: “If you have been putting off that renovation or new build, the extra A$25,000 we are putting on the table, together with record-low interest rates, means now is the time to get started.”

There are three scenarios for different buyers:

First-home buyers + House & Land buyers 

    - Total price under A$750,000

    - Land price under A$350,000, stamp duty fully waived (normal stamp duty payable A$11,820)

    - Land price under A$450,000, partial stamp duty concession

    - The first-home owner grant amount varies by state; refer to the government official website for details

Maximum grant: A$36,820 + first-home owner grant

House & Land buyers

    - Total price under A$750,000

Maximum grant: A$25,000

Owners renovating a home

    - Renovation cost A$150,000-A$750,000

    - Home value before renovation under A$1,500,000

Maximum grant: A$25,000

There is also a window for applications: contracts must be signed between 4 June 2020 and 31 December 2020. Construction is also required to commence within three months of signing the building contract.