Only requires the construction of residential premises if purchasing vacant land.
Guidelines on FHSS scheme below
First home super saver scheme | Australian Taxation Office
You can read through the tax ruling if you have the inclination (paragraph 87 is the relevant section)
See footnote 63 for meaning of residential premises (reproduced below)
The term 'residential premises' is defined under section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999 as meaning land or a building that is occupied as a residence or for residential accommodation or is intended to be occupied, and is capable of being occupied, as a residence or for residential accommodation (regardless of the term of the occupation or intended occupation)
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