On 29 June 2012 the Government announced an extension of the BuildBonus end date to cover contracts and owner-builder housing commencements up to 31 December 2012.

BuildBonus was introduced on 3 May 2011 by the Northern Territory Government to encourage investment in and construction of affordable homes and units in the Territory.

BuildBonus provides a $10 000 grant to home buyers and investors, including companies and trustees, that sign a contract to purchase or build a new home (including signing a contract for a house and land package), purchase a new unit (including off-the-plan) or commence construction of a new home as an owner builder, between 3 May 2011 and 31 December 2012 inclusive.

BuildBonus is not means tested but the value of a new unit or new home or the total construction cost of a new home (including the value of the land on which it is built) is capped at $600 000.

Only one grant is payable per transaction and applicants are considered ineligible if they have already received a BuildBonus grant, either alone or jointly, for another transaction.

BuildBonus is available to first home buyers in addition to the First Home Owner Grant. This means that eligible first home buyers will receive grants of up to $17 000.

Persons purchasing a new unit or land to build a new house may also be eligible for other home owner assistance and incentive schemes.

The Territory Revenue Office administers BuildBonus.

Frequently Asked Questions

Eligibility Criteria 

The statement that there are 'over 2000 units ready to be built' published in advertising for the BuildBonus grant scheme is a reference to the statement at http://www.nt.gov.au/lands/ (accessed 11 July 2012) that 'more than 2700 units have received planning approval'.