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FHSS release of funds AFTER signing the contract

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Hi, 

 

I signed a contract to purchase my first home. I was not expecting it to happen so fast but my offer was accepted on the same day. Now I am looking to release funds from my voluntary contributions into my Super via the FHSS scheme. I had not requested FHSS determinations prior to signing the contract. Does this mean I am not able to access this money at all now?

 

Thanks for any advice/help!

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Devotee

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Did you apply for a determination before you signed the contract? If you did you may still be eligible if you request a release within 14 days of signing the contract.

 

This is from the website....

 

 

  • You must apply for and receive a FHSS determination from us before signing a contract for your first home or applying for release of your FHSS amounts.
  • If you've already received a determination and signed your contract to purchase or construct your home, you must make a valid release request within 14 days of entering into that contract. You can also sign your contract after you make a valid release request.

 

https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/First-Home-Super-Saver-Sch...

 

1 REPLY 1
Highlighted

Most helpful response

Devotee

Replies 0

Did you apply for a determination before you signed the contract? If you did you may still be eligible if you request a release within 14 days of signing the contract.

 

This is from the website....

 

 

  • You must apply for and receive a FHSS determination from us before signing a contract for your first home or applying for release of your FHSS amounts.
  • If you've already received a determination and signed your contract to purchase or construct your home, you must make a valid release request within 14 days of entering into that contract. You can also sign your contract after you make a valid release request.

 

https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/First-Home-Super-Saver-Sch...