Hi,
Am planning to do salary sacrifice and contribute extra amount to pool up money in my Super for the eventual withdrawal through ATO once it touches 15000. Would be great, if somebody can throw some light on the below questions;
1. I had already paid 5% deposit towards a land that is yet to be registered. The land is expected to be available for registration in another 5 months by which time, I need to organize the bank loan , including money for stamp duty. I had already signed the contract and paid this 5% amount. When I was reading in the ATO site, what I understand is before signing the contract, we should apply for determination, which I assume, it means that you should had saved the money already and then only sign the contract and apply for determination. So in my scenario, though technically the land is not yet registered, but i did entered into an agreement of purchase with the land developer and i had paid 5%,So Am I first of all eligible to participate in FHSS or I missed the boat already?
2. If still I can commence doing salary sacrifice (planning to pool up 15 grand in 5 months), despite signing the contract above, wanted to check can I use this for paying for land. Once the land is registered, I will commence the construction
Any clarification on the above points would be highly helpful to me. Thx
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