• First home saver account government contribution destination nomination

    You can download the complete instructions and form in Portable Document Format (PDF): Completing your FHSA government contribution destination nomination (317KB, NAT 72872).

    Danger

    Abolition of the first home saver accounts (FHSA) scheme

    In the 2014-15 Budget, the Federal Government announced changes to abolish the first home saver accounts scheme. These changes affect eligibility for government contributions, which will cease from 1 July 2014. Existing account holders will continue to receive the government contribution for personal contributions made during the 2013-14 income year.

    For more information, go to First home saver account.

    End of danger

    When to complete this form

    Complete this form if any of the following apply:

    • We have advised you that we do not have a valid destination recorded for payment of your First Home Saver Account (FHSA) government contribution.
    • You have closed your account with your provider.
    • You are acting on behalf of an FHSA holder who has given you authority under a power of attorney. Depending on your situation, we will pay this amount to your:
      • first home saver account
      • super fund
      • financial institution by electronic funds transfer (EFT) or cheque.
       

    If you are acting on behalf of a deceased FHSA holder, you must complete the Application for payment of first home saver account (FHSA) government contribution for a deceased estate (NAT 72944).

    Find out more

    First home saver account

    End of find out more

    How long does your nomination continue?

    This nomination form will continue to apply until one of the following happens:

    • You make a new nomination.
    • Your FHSA provider or super fund advises us they are unable to accept payments.
    • We are notified that you have transferred the balance from one FHSA to another.
    • Your FHSA is closed and you are not entitled to any further payments.

    Which destination should you choose?

    First home saver account

    You will need to nominate an FHSA for the government contribution to be paid into. If you no longer have an FHSA, you can have the government contribution paid either to your super fund, or as a direct payment, depending on why your FHSA was closed.

    Super fund account

    You will need to provide your super fund account details for the government contribution if your FHSA has been closed and the balance was contributed to your super fund.

    Direct payment

    You will need to nominate a direct payment for the government contribution if you have closed your FHSA to purchase or build a home to live in.

    A direct payment is an amount we send to you by cheque or to a financial institution account via electronic funds transfer (EFT).

    How to complete this form

    Section A: Your personal details

    Question 1: Tax file number

    Provide your tax file number (TFN).

    Attention

    The ATO is a government agency bound by the Privacy Act 1988 in terms of collection and handling of personal information and tax file numbers (TFNs).  For further information about privacy law notices go to Your privacy.

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    Section B: Your payment destination

    Complete by writing X in the applicable box.

    First home saver account – complete section C

    You must nominate an FHSA for the government contribution to be paid into. If you no longer have an FHSA, you can have the government contribution paid either to your super fund or as a payment directly to you, depending on why your FHSA was closed.

    Super fund account – complete section D

    If your FHSA has been closed and the balance was contributed to your super fund, you must provide your super fund account details so the government contribution can be paid into that account.

    Direct payment – complete section E

    Nominate a direct payment if you have closed your FHSA to purchase or build a dwelling to live in.

    A direct payment is an amount we send to you by EFT or cheque.

    Section C: Your first home saver account details

    Complete this section if you have an FHSA.

    If you do not know which category to choose for your FHSA, check with your provider or visit the Australian Prudential Regulation Authority (APRA) website at apra.gov.auExternal Link

    Make sure your account provider has the same name and contact details recorded for you as we have. Any discrepancies in these details could result in processing delays.

    Question 13: Member or client number/reference number

    Not all account providers use a bank state branch (BSB) number and account number. For life insurance companies, public-offer super fund trustees or some financial institutions, you may need to provide the client identifier or reference number.

    Section D: Your super fund details

    Complete this section to have the FHSA government contribution sent to your super fund. You can only have a government contribution paid to a super fund if your FHSA has been closed.

    When we say super fund, we are referring to all types of complying super funds and accounts, including:

    • self-managed super funds
    • public sector super schemes
    • approved deposit funds (ADFs)
    • retirement savings accounts (RSAs).

    Get it done

    To check if your super fund is a complying fund, visit Super Fund LookupExternal Link.

    End of get it done
    Attention

    Not all super funds can accept these contributions. Check that your fund can before nominating them. If your superfund cannot accept the contribution, complete Section E.

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    You need the following information relating to your super fund:

    • their Australian business number (ABN)
    • their super product identification number (SPIN) if they have one and your member account number
    • your member or client identifier/reference number, if there is one.

    If you do not have this information, you can ask your super fund for it.

    If you have not given your TFN to your super fund, they will not be able to accept the FHSA government contribution.

    Make sure your fund has the same name and contact details recorded for you as we have. Any discrepancies in these details could result in delays in processing your government contribution.

    Attention

    All FHSA contributions paid into a super fund, including any FHSA government contribution, are super contributions and count towards your non-concessional contributions cap. For more information about the super contribution caps, refer to Super contributions – too much super can mean extra tax.

    FHSA contributions paid into a super fund are not eligible for the super co-contribution.

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    Section E: Your direct payment details

    Complete this section if you or your legal representative is entitled to receive the FHSA government contribution as a direct payment. You can receive your government contribution as a direct payment if your FHSA account has been closed. Select which of the following is the reason the account was closed:

    • You have met the four-year rule and closed your FHSA to purchase or build a dwelling to live in.
    • You did not meet the four-year rule but will acquire a dwelling with another FHSA holder who has.
    • Your superfund is unable to accept the contribution.
    • Your account was closed because you reached 60 years of age.

    To work out if you met the four year rule, refer to First home saver account.

    Question 21: Electronic Funds Transfer (EFT) direct refund

    It is faster and simpler to have your refund paid directly to your Australian financial institution account. Complete your account details on the relevant form, even if you have provided them to us previously. If you have changed your registered tax agent or have a new financial institution account, check that you have completed the item with the new details.

    Attention

    If you do not complete this item or do not have an Australian financial institution account, we will send you a cheque by mail.

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    Provide the following:

    • The BSB number. This six-digit number identifies the financial institution. Do not include spaces, dashes or hyphens in the account number.
    • The account number. You cannot use an account number with more than nine characters. Do not include spaces in the account number.
    • The account name, as shown on the account records. Do not write the account type – for example, savings, cheque or mortgage offset. Joint accounts are acceptable. The account name must not exceed 32 characters. If your account name exceeds 32 characters, provide the first 32 characters of your account name in the spaces provided. This figure includes spaces between each word and between initials in the account name.

    Section F: Declaration

    Read the declaration. If it is correct, write your full name then sign and date it.

    Proof of Identity

    If you are acting on behalf of a first home saver account holder under a power of attorney, you must attach a certified copy of the power of attorney if you have not previously lodged it with us.

    Attention

    Do not send originals and do not use pins or staples.

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    All copied pages of original documents must be certified as true and correct copies by one of the following:

    • barrister
    • doctor
    • judge
    • Justice of the Peace
    • minister of religion who is authorised to celebrate marriages
    • police officer with a rank of sergeant or above, or the highest ranking officer in the station
    • bank, building society or credit union officer with at least five years service
    • sheriff’s officer
    • solicitor.

    They must sight the original document and the copy and certify that each page is a true copy by writing or stamping ‘certified true copy’, followed by all of the following:

    • their signature
    • their printed name
    • their qualification (for example, Justice of the Peace) and relevant reference number
    • the date.
    Attention

    If you are outside Australia, you can take the original power of attorney document to the Australian Embassy, High Commission or Consulate. The staff can photocopy and certify it.

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    How to lodge your form

    Keep a copy of the completed form for your records and send the original to us at:

    Australian Taxation Office
    PO Box 3575
    ALBURY  NSW  2640

    Find out more

    Australian Taxation Office
    PO Box 3575
    ALBURY  NSW  2640

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    Last modified: 03 Feb 2015QC 22001