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The government has abolished the first home saver accounts scheme effective from 1 July 2015 and all first home saver accounts will be treated like any other account held with a provider.
The existing rules continue to apply until 30 June 2015 and the ATO retains responsibility for ensuring compliance for actions up to this date.
The Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015External Link received Royal Assent on 25 June 2015.
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