NOTE: The Queensland Government has announced the grant has been extended to 30th April 2012.
On Tuesday 14th June 2011, the Queensland Government announced the Queensland Building Boost Grant.
The Queensland Building Boost Grant is a grant of $10,000 for home buyers, investors, corporations or trustees purchasing or building a new home in Queensland valued at less than $600,000. The grant is to assist the recovery of Queensland's housing construction sector.
Queensland Government Treasurer Andrew Frasier said of the grant "The Queensland Building Boost not only makes a new home more affordable and creates construction jobs, but it will add to our state's existing housing stock - which has been under pressure due to our strong population growth."
Some locations offer superior investment opportunities and investors are advised to research demographic profiling and infrastructure spending in any region they are considering.
ParkTrent research analysts take the guess work out of predicting the right location for investment. To benefit from this expertise, whilst still taking advantage of the time limited Queensland Building Boost Grant, speak with a ParkTrent professional today!
If you would like more information, please contact our Customer Service and Sales team on 1800 652 224 or email contact@parktrent.com.au
The grant is available from 1st August 2011 to 31st January 2012.
The grant is available to home buyers, investors, corporations and trustees. However, the applicant need not be a Queensland resident.
The grant is not payable for a building contract, or to an owner builder, if the applicant carries on the business of building homes and the home was constructed for sale in the course of that business.
Yes. As long as the grant conditions are met, a single applicant can obtain a grant on multiple new homes purchased or built. You can only receive the grant once for a particular new home.
A new home, for the purposes of the grant, is a home that has not been previously occupied or sold as a place of residence. A substantially renovated home may also qualify under certain conditions.
For the purchase or construction of a new home in Queensland, the contract must be made between 1st August 2011 and 31st January 2012. If the contract is for the construction of a new home, building work must commence within 26 weeks of the contract date, and must be completed within 18 months of the work starting.
Owner builders are eligible for the grant if the construction of a home in Queensland begins between 1st August 2011 and 31st January 2012. The start of building work is usually the laying of the foundations for the home, and the building work must be completed within 18 months of the work starting.
Purchases of new homes off the plan may also be eligible for the grant, providing the building work is completed by 31st July 2013.
No, however the home must be occupied as a place of residence during the ownership of the home by the applicant. However, it does not matter who occupies the home; it can be rented to a tenant, or occupied by a family member.
A person who builds a home and sells it before it has been occupied cannot claim the grant; however the purchaser of such a property may be eligible.
If the occupancy requirement is not met, the applicant must notify the Commissioner of State Revenue and repay the grant.
Yes. As long as you meet all relevant eligibility criteria, if the new home being purchased is your first home you may be entitled to the $10,000 Queensland Building Boost Grant, the $7,000 First Home Owners Grant and the first home buyer transfer duty concession.
