MORE people will be able to claim a rebate from the Australian Government when building a new home or undergoing substantial renovations as the Homebuilder construction commencement requirement has been extended.
The Australian Government extended the requirement from the six months to 18 months for all applicants who applied between June 4, 2020 and March 31, 2021.
The extension means all those who signed building contracts would have 18 months to complete ‘stage one’ of their build.
Those conducting substantial renovations to their existing home could also be eligible if works are valued between $150,000 and $750,000.
Over 120,000 Australians have applied for the grant which was designed to protect tradies’ jobs and increase economic activity, while supporting roughly $30 billion worth of residential construction projects.
The extension was designed to boost confidence in the residential construction sector after the COVID-19 pandemic caused many to pause or postpone their new builds or renovations.
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