When purchasing a house and land package, multiple payments will generally need to be made over the course of the building process.  This is in contrast to the purchasing of an established property.

The Superannuation Technical minutes, December 2012 elaborates on Self Managed Superannuation Funds Ruling (SMSFR) 2012/1 example 10 - acquisition of a yet to be constructed house on land using borrowings.

The ATO states in these minutes that the terms of a limited recourse borrowing arrangement may allow for multiple drawdowns. The minutes also state that in terms of SMSF 2012/1 Example 10, is not intended to imply that only arrangements involving two payments, i.e., the deposit and the settlement are only permitted and that arrangements involving more payments are not permitted.