Narrative:

While on final to [runway] xxl to full stop landing; both the my student and I became aware of an aircraft in close in and behind us when tower cleared aircraft Y to land [runway] xxl and the plane called [runway] xxl short approach. At that time; we were probably 1/8 of a mile from the threshold and 150 AGL. I announced that we were short approach [runway] xxl. At that time; tower told the aircraft Y to go around side step left. I witnessed two aircraft shadows of approximately the same size and merging. I called 'my plane' taking the controls and nosing down lower as aircraft Y went over the top of us; missing by 50-75 estimated. I queried the tower whether I was still cleared to land [runway] xxl. Tower replied confirmed we were; so I continued the landing on [runway] xxl and taxied in to the ramp.after securing the aircraft; we saw the CFI and student pilot of aircraft Y; asking them if they were the aircraft Y who had told to go around on [runway] xxl to which they confirmed. I asked them if they had seen us on short final to which the student pilot said 'no' they had not.a subsequent call to the tower indicated that it had been a very close near miss.

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Original NASA ASRS Text

Title: Pilots reported loss of situational awareness caused a Near Mid Air Collision.

Narrative: While on final to [Runway] XXL to full stop landing; both the my student and I became aware of an aircraft in close in and behind us when tower cleared Aircraft Y to land [Runway] XXL and the plane called [Runway] XXL short approach. At that time; we were probably 1/8 of a mile from the threshold and 150 AGL. I announced that we were short approach [Runway] XXL. At that time; Tower told the Aircraft Y to go around side step left. I witnessed two aircraft shadows of approximately the same size and merging. I called 'MY PLANE' taking the controls and nosing down lower as Aircraft Y went over the top of us; missing by 50-75 estimated. I queried the Tower whether I was still cleared to land [Runway] XXL. Tower replied confirmed we were; so I continued the landing on [Runway] XXL and taxied in to the ramp.After securing the aircraft; we saw the CFI and student pilot of Aircraft Y; asking them if they were the Aircraft Y who had told to go around on [Runway] XXL to which they confirmed. I asked them if they had seen us on short final to which the student pilot said 'No' they had not.A subsequent call to the Tower indicated that it had been a very close near miss.

Data retrieved from NASA's ASRS site and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.