Under the housing scheme, for a renovation to be eligible, it will have to cost between $150,000 and $750,000, which effectively rules out most projects other than a building project such as an extension.
The pre-renovation value of the house must not exceed $1.5 million.
Sheds, yurts, granny flats, pools, tennis courts and any other structure not attached to the home will not be eligible.
Singles who earned no more than $125,000 the previous financial year and couples who earned up to $200,000 will be eligible for the grants.
The handout will be available from June 4 until September 31, 2020.
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