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What you need to know – Overview of the Building Bonus (WA)

On 24 July the Department of Finance, RevenueWA released its guidelines on the State Building Bonus grants.

RevenueWA’s guidance on the Building Bonus grant is available here.

The Building Bonus grant provides eligible owner-occupiers or investors $20,000 who enter into a contract to build a new home on vacant land or enter into an off-the-plan contract to purchase a new home as part of a single-tier development.

Information about the Building Bonus grant is detailed below.

  New Detached Home New Home On Single Tier Strata Plan
Grant $20,000 $20,000
Applicant Criteria • Registered owner of vacant land
• Owner occupiers and investors
• Australia citizens and foreign persons
• Natural persons, corporations and trustees
• One grant paid per lot of vacant land
• Registered owner of land on which new home is built and buyer named in off the plan contract or eligible transferee
• One grant per dwelling
Construction Critieria • Detached residence
• Land vacant
• Contract in name of registered owner or additional supporting evidence required
• Off the plan contract
• new home in single tier strata scheme
• before development completed.
Building Contract Contract must be signed between 4 June 2020 and 31 December 2020 Contract must be signed between 4 June 2020 and 31 December 2020
Construction Timeframes • Commencement within 6 months of contract date (except for owner builder construction must commence between 4 June 2020 and 31 December 2020)
• Construction commences when significant earthworks, excavations or physical building work commences.
• Commencement within 6 months of contract date
• Construction commencement date can be extended subject to application with supporting evidence to Commissioner
Timeframes For Application Application for grant to be submitted once foundations have been laid.
Grant must be applied for by 30 June 2021.
Application for grant to be submitted once construction completed and applicant is the registered owner of the property.
Specific Inclusions • New detached homes constructed under a building contract.
• New relocatable homes
• New homes constructed by an owner builder.
New single tiered homes on strata plans such as villas and townhouses
Exclusions • Mixed use and commercial properly
• Short stay accommodation
• New constructions where there is already a building on the land for example adding a granny flat to the backyard of a persons home
• Replacement transactions
• Replacement transactions
• Multi-tier developments
• Completed Dwellings
• Refurbished developments

Application Form

The application form for the client/s to complete is available here.

The client/s will have to provide information about their income, citizenship, certificate of title and building contract, or a copy of the sales contract for the purchase of an off the plan home/new home.

Contact a HIA Workplace Adviser on 1300 650 620 for further information and advice