Tasmanian Homebuilder Grant & Commonwealth Homebuilder Grant Schemes extended to 31/03/2020
Just in case you missed it - the Tasmanian Homebuilder Grant & Commonwealth Homebuilder Grant Schemes have been extended to 31/03/2021 (with a few changes). Inserted below is the official communication released by the Tasmanian Government:
'1 December 2020 Michael Ferguson, Minister for Finance
Extension to Tasmanian HomeBuilder Grant scheme
The Tasmanian Liberal Government and Morrison Government are working hard to stimulate the economy and support businesses, jobs and Tasmanian families as we recover and rebuild. On Sunday, the Australian Government announced it would extend the federal HomeBuilder Grant scheme through to March 31, 2021. We welcome this economy-boosting extension, and I’m pleased to announce the Tasmanian Liberal Government will also extend the Tasmanian HomeBuilder Grant scheme for contracts entered up to March 31, 2021. The Australian Government will amend the federal scheme by:
Reducing the grant amount to $15,000 for contracts entered from January 1 to March 31, 2021;
Replacing the builder registration eligibility date to November 29, 2020, for contracts entered on or after that date; and
Extending the end date for lodgement of applications under the scheme for all applicants to April 14, 2021.
The Tasmanian Government will adapt criteria in line with amendments proposed to the National Partnership Agreement so that all new home builds will have a period of six months to commence construction, and builders registered up to November 29 will be eligible under both schemes. This means all eligible Tasmanians entering a contract between January 1 and March 31 will be entitled to both grants, totalling $35,000. This is another massive boost for Tasmania’s building and construction sector, supporting local jobs and the Tasmanian economy. As at Friday, November 27, there were 858 applications for the federal HomeBuilder Grant received – 736 for new home builds and 122 for substantial renovations. There were also 530 applications received for the Tasmanian HomeBuilder grant and a further 206 first home builders had applied for the First Home Owner Grant, in conjunction with the HomeBuilder grant. This extension will be delivered through the 2020-21 State Budget, which is focused on jobs, confidence and supporting the community.'
To find out more information or if you are eligible for the grants, contact us at Hobart Home Loans today!