Why use a financial adviser?

Manage your assets

Protect your wealth

Build your legacy

‘HomeBuilder’ grants now available.

$25k grants for housing construction, renovations to bolster industry.  The Federal Government will give eligible Australians $25,000 to build or substantially renovate their homes.

How it will work

  • It will be restricted to substantial renovations and the construction of new homes, with recipients required to spend at least $150,000 before being eligible.
  • The grants will be means-tested to exclude couples making more than $200,000 per year and individuals making more than $125,000 per year, while limits will also be placed on the value of the property the grants go towards.
  • New builds will be capped at $750,000, while renovations can cost anywhere between $150,000 and $750,000, but will only be subsidised if the house being altered is valued at less than $1.5 million.
  • The scheme will not apply to investment properties or owners who intend on building or renovating on their own without the help of builders.
  • Renovation work will not include structures separate to the main property, such as swimming pools, tennis courts and sheds.
  • To be eligible for the grants, homeowners will need to enlist a licensed builder to complete the works.

"This is about targeted taxpayer support for a limited time using existing systems to ensure the money gets used how it should by families looking for that bit of extra help to make significant investments themselves," Mr Morrison said.

The grants are available from today, 4th June 2020, and will run until the end of the year.

 

Source: Federal Government

 

 

  • September update of latest COVID-19 initiatives.

    With the ending of a number of the original COVID-19 relief and stimulus initiatives, August and the beginning of September has seen the release of new plans to move into the post-September period. Links to these updates and changes are listed below.

  • Update of Superannuation contribution rules from July 1, 2020.

    The rules around Superannuation contribution change almost every year, so it is important that taxpayers know what these changes mean to them.

  • More than $31bn paid under early super release

    The government’s early super release scheme shows no signs of slowing down, with almost 90,000 release applications received by super funds in the first week of August and more than $700 million in payments made.

  • Your super fund, your choice

    Choice is inherently regarded as a good thing, particularly in these COVID-affected times when some of our basic choices have had to be suspended for the greater community good.

Read more latest Financial Planning news articles

Retirewell Financial Planning Pty Ltd
ABN 29 070 985 509 | AFSL No. 247062
Phone 07 3221 1122 | Fax 07 3221 3322
Suite 6A, Level 6, 79 Adelaide Street
BRISBANE QLD 4000

General Advice Warning

The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Retirewell Financial Planning nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.