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  • CRT Alert 082/2018

    15 November 2018

    Super housing measures update

    First home super saver (FHSS) scheme

    Published guidance documents

    The new Guidance Note, GN 2018/1 First home super saver scheme has been published. This Guidance Note has been developed to help individuals, funds and intermediaries understand the FHSS scheme.

    It provides information to help people work out how the scheme applies to them and provides a wide range of examples. It can be read in conjunction with Law Companion Ruling (LCR) 2018/5 First home super saver scheme.

    A FHSS fact sheet has also been published for individuals considering the scheme. Visit the ATO Publication Ordering Service to download the First Home Super Saver Scheme fact sheet.

    Foreign fund transfers and eligibility

    Certain KiwiSaver and other foreign fund transfer amounts are eligible contributions for calculating maximum FHSS release amounts.

    These amounts can also be released by funds in response to an FHSS release authority, subject to the normal cashing order of benefit rules. For more information see GN 2018/1 First home super saver scheme.

    See also:

    Downsizing contributions into superannuation

    Following public consultation, draft Law Companion Ruling (LCR) 2018/D4 Housing affordability measures: contributing the proceeds of downsizing to superannuation has been published as final, LCR 2018/9.

    The downsizer measure is designed to allow individuals who are 65 years and over to make a contribution of up to $300,000 into their super after selling their home.

    The LCR provides guidance on the operation of the downsizer measure and helps individuals and their advisers to determine their eligibility requirements and their obligations under the measure.

    Guidance Note (GN) 2018/2 has also been published to provide additional guidance on the downsizer measure, and includes examples that may assist in determining requirements and eligibility.

    See also:

      Last modified: 19 Nov 2018QC 57389