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Notes Online Home 2017 Super Schools Day 1 Other new developments for SMSFs
Government set to introduce First Home Super Saver (‘FHSS’) scheme
In this segment of the notes, we discuss the Government setting to introduce Fist Home Super Saver (‘FHSS’) scheme:
- Which individuals are eligible to use the proposed FHSS scheme?
- Which contributions can be withdrawn under the proposed FHSS scheme?
- How does an eligible individual arrange to have eligible contributions withdrawn?
- The tax treatment of amounts released under the proposed FHSS scheme
- Obligations imposed on individuals after amounts are released under FHSS scheme
Is it beneficial to use the FHSS scheme to build up a deposit for a first home?