在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
Just looking at my super statement which has actually done well this year.
It got me thinking. If you were having financial troubles with your IP'S. Could you claim financial hardship to access your super to meet repayments ?
I ask because a work mate some time back claimed financial hardship and got some of his super to buy a computer for his kids and a caravan for one of them to live in. ( stupid i know).
If they allow it to be used on trivial things like that. Surely IP's would be a worth while reason.
PS. No i do not have any problems. All fine this end.
devo76 said: ↑
If you were having financial troubles with your IP'S. Could you claim financial hardship to access your super to meet repayments ?Click to expand...Probably NOT. You could possibly save a PPOR but if you are sitting on a few IPs you'd be advised to sell them down rather than mounting a case for accessing super.
Even in the cases where people have accessed super to save a PPOR it tends to only delay the inevitable by 12 months or so until (or unless) the financial situation that caused this in the first place, is addressed.