Morrison government unveil $688 million HomeBuilder scheme | Sky News Australia

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Morrison government unveil $688 million HomeBuilder scheme | Sky News Australia
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The Morrison government has unveiled a $688 million HomeBuilder scheme to combat a predicted 50 per cent decline in the construction of new houses.

The Morrison government has unveiled a $688 million HomeBuilder scheme to combat a predicted 50 percent decline in the construction of new houses. Eligible participants in the scheme will be able to access $25,000 dollar grants for a six month period from July until the end of the year. To be eligible, individual applicants must earn less than $125,000 dollars annually, or $200,000 annually for couples.

A further stipulation requires a new home cannot cost more than $750,000 dollars while those wanting to renovate, must spend at least $150,000 dollars on the work. Compliance checks will be carried out by state revenue offices, to ensure the program remains uncompromised. Despite welcoming support for the building industry, Labor is pushing the government to include social housing in the stimulus package.

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