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Termites777(Newbie)Newbie
12 Jan 2022

Is it possible to fast-track a First Home Super Saver release of funds? I recieved the determination and applied to release the funds a few days ago. I've today had an offer accepted on a house and will sign the contract shortly.

Unfortunately the 25 business days to release funds puts my 30 day contract in jeapordy, and I may lose out on my home. What can I do in this situation? I've tried calling the ATO and was on hold for hours and hours and never got through to anyone.

724 views
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724 views
2 replies

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Most helpful replyATO Certified Response

CaroATO(Community Support)Community Support
ATO Certified Response13 Jan 2022

Hi @Termites777,


How exciting to be purchasing your first home.


If you're using the FHSS scheme it does take 15 - 25 days to release your money. As it's being processed we don't have the ability to fast track it. Hopefully you'll receive it very soon.


Please note you have 28 days to notify us that you've signed a contract. The quickest way to do this is via your myGov account.

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Most helpful replyATO Certified Response

CaroATO(Community Support)Community Support
ATO Certified Response13 Jan 2022

Hi @Termites777,


How exciting to be purchasing your first home.


If you're using the FHSS scheme it does take 15 - 25 days to release your money. As it's being processed we don't have the ability to fast track it. Hopefully you'll receive it very soon.


Please note you have 28 days to notify us that you've signed a contract. The quickest way to do this is via your myGov account.

Paramount7(I'm new)I'm new
13 Jan 2022

I wouldn't be worried about fast tracking it. I would be more worried about even receiving the money within the 25 days. Highly unlikely.

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