NSW Government provides further clarity on HomeBuilder Grant

30 July 2020

The NSW Government has released further information on how the HomeBuilder Grant will operate for NSW homebuyers. 

The grant provides eligible owner-occupiers $25,000 towards the cost of building or buying a new home or substantially renovating an existing home.

The grant is an Australian Government initiative that will be administered by the NSW Government through the Department of Treasury and Finance, Revenue NSW. 

Following industry feedback and questions regarding the definition of “commencement of construction” and documentary evidence options, Revenue NSW has released the following guidance:

  • In relation to a new home, commencement of construction will be commencement of excavation and site preparation works.
  • In relation to a substantial renovation, commencement of construction is when works under the renovation contract commence.
  • In relation to an off the plan purchase, commencement of construction will be commencement excavation and site preparation works.
  • The notice of commencement that is uploaded to the NSW Planning Portal, as required under the EP&A Act, will be accepted as evidence of construction commencement.
  • To be eligible for the grant, construction must commence within three months of the contract date and applications must be made before 31 December 2020. 

Read more: https://www.revenue.nsw.gov.au/grants-schemes/homebuilder