Establishing residence for early access to super

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Cimbom, 13th Sep, 2015.

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  1. Cimbom

    Cimbom Well-Known Member

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    Hello,

    Just wondering what criteria is generally looked at when it comes to early access of super for the purpose of making mortgage payments? If the property was an IP but the owner then moves into it, would they be able to meet the requirements and what is the duration of residency that's needed?

    Thanks in advance :)
     
    Cimbom, 13th Sep, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You must meet a condition of release such as reaching retirement age or being diagnosed with a terminal illness.
     
    Terry_w, 14th Sep, 2015
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  3. Cimbom

    Cimbom Well-Known Member

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    Thanks. Yes, presuming a condition of release is met. How long would you need to be living there for it to be classed as a PPOR and what proof do they generally require?
     
    Cimbom, 14th Sep, 2015
    #3
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Paul@PAS, 14th Sep, 2015
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