This is general advice only and is a brief summary. For full details click here and seek specific advice. How much? $20,000 How? Enter into a contract to build or purchase a house being constructed (off-the-plan) When? Contract entered into between 4 June 2020 and 31 December 2020 |
Construction must begin (slab down) within 6 months of signing the contract
Owner builders must begin construction between 4 June 2020 and 31 December 2020.
Tests? There is no cap to purchase price or contract value
There is no income test
Once off? Multiple grants can be paid to the same applicant for separate transactions
Grant is available for each new home built or purchased as long as they're on a separate title.
Limits? Property cannot be for mixed use, commercial or short stay
It cannot share walls or roof structures with any other buildings
Land must be vacant or existing building demolished
Cannot be part of a multi-tiered development
Cannot be for a completed dwelling held by the developer
Cannot be for refurbished/renovated properties
Cannot be for multiple properties on one title such as granny flats
This can be applied for along with other grants available
Who? Building contract must be in the name of the registered owner
Owner builders are acceptable
Owner occupiers and investors are acceptable
Australian citizens and foreign persons are acceptable
Natural persons, corporations and trusts are acceptable
Applicant must be the registered owner of the land and the one named in the building contract or off-the-plan contract
You do not need to be living in WA
You do not need to live in the house
Paid? After the building is demolished and/or the slab is laid if property is owned by applicant
After the property is completed and transferred into the applicant's name if an off-the-plan transaction
Money is paid directly to the applicant
When to apply? After slab down but before 30 June 2021 if you own the property and have entered into the building contract
Once the property is completed and transferred into your name if you've entered into an off-the-plan contract.
To discuss the WA Building Bonus Package in more depth, and to find out how much you qualify to borrow, contact us for an obligation free meeting.
Owner builders must begin construction between 4 June 2020 and 31 December 2020.
Tests? There is no cap to purchase price or contract value
There is no income test
Once off? Multiple grants can be paid to the same applicant for separate transactions
Grant is available for each new home built or purchased as long as they're on a separate title.
Limits? Property cannot be for mixed use, commercial or short stay
It cannot share walls or roof structures with any other buildings
Land must be vacant or existing building demolished
Cannot be part of a multi-tiered development
Cannot be for a completed dwelling held by the developer
Cannot be for refurbished/renovated properties
Cannot be for multiple properties on one title such as granny flats
This can be applied for along with other grants available
Who? Building contract must be in the name of the registered owner
Owner builders are acceptable
Owner occupiers and investors are acceptable
Australian citizens and foreign persons are acceptable
Natural persons, corporations and trusts are acceptable
Applicant must be the registered owner of the land and the one named in the building contract or off-the-plan contract
You do not need to be living in WA
You do not need to live in the house
Paid? After the building is demolished and/or the slab is laid if property is owned by applicant
After the property is completed and transferred into the applicant's name if an off-the-plan transaction
Money is paid directly to the applicant
When to apply? After slab down but before 30 June 2021 if you own the property and have entered into the building contract
Once the property is completed and transferred into your name if you've entered into an off-the-plan contract.
To discuss the WA Building Bonus Package in more depth, and to find out how much you qualify to borrow, contact us for an obligation free meeting.