• First home saver account

    The government abolished the first home saver accounts (FHSA) scheme from 1 July 2015.

    You might still be eligible for government contributions and you have until 30 June 2017 to make your claim. Claims received after this date cannot be paid.

    Find out about:

    How to claim outstanding government contributions

    If you made personal contributions to a FHSA and were a resident of Australia but haven't lodged an income tax return or notification of eligibility for that year you might be entitled to some money.

    To claim your government contribution you must have been a resident of Australia for tax purposes.

    If you’re entitled to any government FHSA contributions for any earlier period you can still claim it. This could be for any period between 2008 and 2014.

    To claim any outstanding government contribution, you need to lodge either a:

    You must do one for each relevant year and have it to us by 30 June 2017.

    Any outstanding government contributions will be paid directly to you once these are processed. Government contributions are tax exempt/not taxable and are not to be included as income in your income tax return.

    When the government contribution is paid

    Before the government contribution can be paid two things must happen:

    • You must lodge a tax return – or, if you don’t need to lodge a tax return, lodge an FHSA notification of eligibility form.
    • Your account provider must have told us about your personal contributions to the FHSA.

    If you think you were entitled to a government contribution but haven’t received it, check that you’ve met the requirements before you contact us.

    Once we have that information, we have 60 days to calculate and pay the government contribution to you.

    Claim amounts

    How much you might be entitled to depends on how much personal contribution you paid into your FHSA. You will be entitled to 17% of your personal contributions (up to a certain amount).

    The table below shows you how you needed to contribute in order to receive the maximum government contribution. You could deposit more but you won't receive more than the maximum annual government contribution.

    Maximum contributions by income year

    Income year

    Deposit threshold

    Maximum annual government contribution

    2013–14

    $6,000

    $6,000 x 17% = $1,020

    2012–13

    $6,000

    $6,000 x 17% = $1,020

    2011–12

    $5,500

    $5,500 x 17% = $935

    2010–11

    $5,500

    $5,500 x 17% = $935

    2009–10

    $5,000

    $5,000 x 17% = $850

    2008–09

    $5,000

    $5,000 x 17% = $850

     

    Example

    As a resident of Australia, Owen made $1,000 of personal contributions in 2014 to his FHSA in 2014. Up until now, Owen hasn’t lodged his income tax return or notification of eligibility for that year. After receiving a reminder SMS, Owen has looked at his situation and decided that he doesn’t need to lodge an income tax return for that year. He has now lodged a FHSA notification of entitlement.

    After processing, we will send Owen $170.

    End of example

    Compliance

    The ATO continues to have responsibility to ensure the integrity of the scheme while it was active. This may mean that in limited circumstances you may need to pay back government contributions that you previously received. We will contact you if this happens.

    Example

    Garry lodged an income tax return in 2014 advising he was a resident of Australian for tax purposes. He received an $800 government FHSA contribution.

    Following an audit, it was determined that Garry was really a non-resident for that year. Garry will need to repay the Government FHSA contribution he previously received for that year.

    These sorts of changes can continue to happen after 30 June 2017.

    End of example
    Last modified: 06 Dec 2016QC 23249