The BuildBonus is here to help you build your new home in the Northern Territory.
BuildBonus was introduced in February 2019 to help Territorians fulfil their dream of building their new home.
If you are buying or building a new home you can apply for a grant of $20,000.
This grant is limited to the first 600 applications.
A new home is one that has never been previously lived in or sold as a place of residence.
To be eligible for the grant, you must have entered into a contract to build or buy a home, or have started construction as an owner builder on or after 8 February 2019.
The earliest date on which you can apply for BuildBonus will depend on the type of transaction you have entered into. The requirements are outlined in Table 1 below. Applications received before these requirements are met will not be accepted.
An exception applies for applicants who have entered in to a contract to build and are directing the funds to their financial institution to hold in lieu of the first or subsequent progress payment. In these cases, applicants can lodge an application once the contract to build has been executed and an expected date for commencement of construction is provided by the builder.
Table 1: When to lodge an application
|Type of transaction||When you can apply|
|Purchase of a new unit or new home||When you enter into a contact of sale|
|Contract to build||After commencement of construction (see exception above)|
|Owner builder||On completion of construction|
|Type of transaction||Supporting information|
|Purchase of a new unit or new home|
a copy of the exchanged contract of sale dated and signed by all parties
a declaration form F-HI-018 for company vendors or
F-HI-017 for individual vendors) by the vendor that declares the property is a new unit or a new home for the purpose of BuildBonus (see the definition in the explanation of key terms used). Declaration forms are available from the TRO website
evidence that settlement has occurred (unless section 9 of the application has been completed)
|Contract to build|
a copy of the contract to build, dated and signed by all parties
if the contract states a completion date within 18 months from commencement of construction, or you have a builder’s letter to that effect, evidence that progress payments (excluding the deposit) of at least $20 000 have been paid to the builder (unless section 5 of the application has been completed)
if the contract does not state that construction will be completed within 18 months of construction commencement, evidence that construction was completed within 18 months of commencement. This will generally be a copy of the occupancy permit or, if outside the Building Control Area, a declaration from the builder
of the date that construction commenced (for example, invoice for laying of the foundations
that building costs of at least $20 000 have been incurred, excluding your own labour costs
of the date construction was completed and the home is suitable for occupation as a residence
If the home is in a Building Control Area, an occupancy permit issued under the Building Act will suffice as evidence of completion of construction. If the home is outside of a Building Control Area, refer to Commissioner’s Guideline CG-HI-006 or contact TRO for the evidentiary requirements.
To apply for the BuildBonus, follow these steps:
Step 1. Fill in the application
Step 2. Attach supporting documents.
Step 3. Submit your application by mail or email to:
Territory Revenue Office
GPO Box 154
Darwin NT 0801
The date BuildBonus is paid depends on the type of transaction you are entering into. Table 2 details the earliest dates that the grant will be paid for the various transaction types.
Payment will be made by electronic funds transfer to your nominated bank account, generally within 10 business days of lodging the application, provided the application is complete and all supporting information (see table 3 below) is provided.
For the purchase of a new unit or a new home, BuildBonus can be made available for settlement by arrangement with your conveyancer or solicitor. In such circumstances, your conveyancer or solicitor must complete section 6 of the application form.
The BuildBonus payment will be deposited in the trust account of your conveyancer within five business days of the scheduled settlement date or within 10 business days of lodgement of the application form together with all relevant supporting information, whichever occurs later.
For a contract to build, BuildBonus can be made available for the first or subsequent progress payment by arrangement with your financial institution. In such circumstances, a representative from your financial institution must complete section 7 of the application form.
The BuildBonus payment will be deposited in the nominated account of your financial institution within five business days of the expected date for commencement of construction or within 10 business days of lodgement of the application form together with all relevant supporting information, whichever occurs later.
Table 2: When payment will be made
|Type of transaction||When payment is made|
|Purchase of a new unit of home||When your name is registered on the title. An exception applies where payment is being made to your conveyancer for settlement – see above or contact TRO for more information|
|Contract to build|
If the contract states construction will be completed within 18 months of commencement or a letter is received from the builder confirming same, when progress payments (excluding deposit) of at least $20 000 have been paid
if the contract does not state construction will be completed within 18 months of commencement, when construction has been completed
if the contract relates to the construction of a duplex, when separate titles have been issued for the homes in the duplex and ownership of those homes has become different.
An exception applies where payment is being made to your financial institution – see above or contact TRO for more information
For more information or to ask any questions contact Territory Revenue Office by calling 1300 305 353.
Last updated: 29 October 2019