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isjpeg(Initiate)Initiate
19 June 2023

Hi,


I started to add salary sacrifice contributions to my super about a year ago to save for a house under the first home buyers super scheme. I now own an investment property and was not told by my mortgage broker that if I own an investment property, then I cannot have funds released under the FHSS scheme. Is there any way I can get those funds released when I try to buy a property to live in? Or is there no point now in continuing with this scheme?


Thanks!

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263 views
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Most helpful reply

CaroATO(Community Support)Community Support
20 June 2023

Hi @isjpeg,


By owning the investment property you've what we call a freehold interest in real property. Unfortunately, you don't meet the eligibility criteria for the FHSS.


You'll need to look at either early access to your super or waiting until you can access your salary sacrifice contributions.


There's a question that's been answered on this forum slightly different to yours but with the same outcome. Check out the answer.

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Most helpful reply

CaroATO(Community Support)Community Support
20 June 2023

Hi @isjpeg,


By owning the investment property you've what we call a freehold interest in real property. Unfortunately, you don't meet the eligibility criteria for the FHSS.


You'll need to look at either early access to your super or waiting until you can access your salary sacrifice contributions.


There's a question that's been answered on this forum slightly different to yours but with the same outcome. Check out the answer.

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Started saving in super under the First Home Buyers Super Scheme. | ATO Community