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I recently purchased a vacant land with money I received from my deceased father's estate.

Newbie

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I recently purchased a vacant land with money I received from my deceased father's estate.  I do not have enough money to construct a home on it.  I also lost my first home due to bankruptcy and am currently renting.  Am I entitled to apply to access my superannuation under the FHSS scheme to construct a home on the vacant land that I recently purchased?  

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ATO Community Support

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Hi @Marysmith1,

 

Though there are financial hardship provisions. for those who have previously been bankrupt and lost their property as a result, in order to be eligible for a determination form to be accepted, you must not have acquired a subsequent interest in real property in Australia since you lost the property as a result of financial hardship.

 

Under these grounds, because you have acquired vacant land, you would not be eligible for a first home super saver scheme release.

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Most helpful response

ATO Community Support

Replies 1

Hi @Marysmith1,

 

Though there are financial hardship provisions. for those who have previously been bankrupt and lost their property as a result, in order to be eligible for a determination form to be accepted, you must not have acquired a subsequent interest in real property in Australia since you lost the property as a result of financial hardship.

 

Under these grounds, because you have acquired vacant land, you would not be eligible for a first home super saver scheme release.

Newbie

Replies 0

Thank you for your reply.  Really appreciated.