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Hi @Dkar,
Thank you for your question.
@MVF thanks for your assistance, there have been a few changes since the previous Community post you have referenced.
A recent amendment to the FHSS scheme has clarified that amounts withdrawn under FHSS can only be used to purchase an Australian property. Provided you meet the other FHSS eligibility requirements, the property which you purchase must be located in Australia. Purchase of property located outside of Australia is not eligible under the scheme.
More information is available on our website, there is also a factsheet available to order.
It is important to note that this change applies from the start of the FHSS scheme, which began on 1 July 2018. Keep an eye on our website for updates.
Thanks.
May - last edited May
Replies 5
Hi @Dkar
YES, you absolutely can if you meet all of the eligibility criteria
The FHSS legislation doesn’t specify where a residential premises needs to be located for the purpose of the scheme, so a person can buy where ever they want to in the world.
This issue has been previously discussed in this ATO community post.
Further information on the FHSSS can be found in this ATO Law Companion Ruling LCR2018/5
ATO super line 13 10 20
thats great news. thanks MVF but i would also wait for ATO to respond.
Hi @Dkar,
Thank you for your question.
@MVF thanks for your assistance, there have been a few changes since the previous Community post you have referenced.
A recent amendment to the FHSS scheme has clarified that amounts withdrawn under FHSS can only be used to purchase an Australian property. Provided you meet the other FHSS eligibility requirements, the property which you purchase must be located in Australia. Purchase of property located outside of Australia is not eligible under the scheme.
More information is available on our website, there is also a factsheet available to order.
It is important to note that this change applies from the start of the FHSS scheme, which began on 1 July 2018. Keep an eye on our website for updates.
Thanks.
May
Replies 0
Hi @JodieH
Thanks for the update ...
Can you please provide the legislative reference for this amendment as I can not seem to find it.
... it would be greatly appreciated ...
MVF
May
Replies 1
Hi @JodieH
Is there some sort of confusion as there are a lot of references, amendments and other for the downsizer contribution in regards to property must be in Australia, but not one single thing in relation to the FHSS ???
Maybe Im looking in the wrong place ??
MVF
Hi @Anonymous,
The amendments are in Treasury Laws Amendment (2019 Measures No. 1) Act 2019 Schedule 4 79-83.
The Revised Explanatory Memorandum (paragraphs 3.59 - 3.67) also provides more information on the amendments.
Hope this helps.
Thanks, NicM