The federal government has released the first details of its $688 million “home builder” scheme.
The scheme will fund grants worth $25,000 for home renovations between June and the end of December 2020. To be eligible, single applicants must earn less than $125,000 a year or $200,000 per couple.
New homes valued up to $750,000 will qualify as will renovations worth between $150,000 and $750,000 that result in the property being worth under $1.5 million.
The prime minister is expected to reveal more details of the scheme on Thursday.