QLD Building Boost Grant Available – By Barry van Heerden – Partner
From 1 August 2011 the Queensland Government is providing a “Building Boost Grant” up to $10,000.00 to buy or build a new house in Queensland.
This grant will only be available until 31 January 2012.
The requirements to apply for the grant are the following:-
1. An individual over the age of 18;
2. Any corporation or trustee which is substantially Australian owned;
3. You must either:-
- enter into a contract to purchase a new home;
- enter into a building contract to construct a new home; or
- commence building a new home as owner/builder.
4. The consideration paid for the property must be less than $600,000.00.
5. The home must be occupied for at least 3 months in the first year of you owning the home. It may be occupied by you, a family member or rented to a tenant.
It is also good to know that you will qualify for the Building Boost Grant in addition to the First Home Owners Grant and the First Home Concession. This means that if you are a first home owner, you may qualify for up to $17,000.00 to buy a new home.
Application forms are available on the Qld Building Boost Grant website which sets out the process to follow when applying for the grant.
Should you require any assistance and/or more details in relation to this please contact our office.