Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-20 - SUPERANNUATION  

Division 138 - First home super saver scheme  

Subdivision 138-A - First home super saver determination  

Operative provisions

SECTION 138-10   FIRST HOME SUPER SAVER DETERMINATION  

138-10(1)  
A first home super saver determination is a written determination stating:


(a) your *FHSS maximum release amount; and


(b) the amount of each of the following components that make up your FHSS maximum release amount:


(i) your *concessional contributions;

(ii) your *non-concessional contributions;

(iii) your associated earnings.

138-10(2)  
You may request the Commissioner, in the *approved form, to make a *first home super saver determination if:


(a) you have never held:


(i) a freehold interest in real property in Australia; or

(ii) a lease of land in Australia (including a renewal or extension of such a lease) as described in paragraph 104-115(1)(b) of the Income Tax Assessment Act 1997 ; or

(iii) a company title interest (within the meaning of Part X of the Income Tax Assessment Act 1936 ) in land in Australia; and


(b) you are 18 years or older; and


(c) you have not previously requested a release authority under Division 131 in relation to a first home super saver determination that has been made in relation to you.

138-10(2A)  
If the Commissioner determines that you have suffered a financial hardship, you are taken to have satisfied paragraph (2)(a).

138-10(2B)  
The regulations may specify the circumstances in which the Commissioner is to determine that a person has suffered a financial hardship for the purposes of subsection (2A).

138-10(3)  
If you make a valid request under subsection (2), the Commissioner must make a *first home super saver determination in relation to you.

138-10(4)  
The Commissioner may amend or revoke a *first home super saver determination at any time before a release authority relating to the determination is issued under Division 131 .

138-10(5)  
Notice of a determination given by the Commissioner under this section is prima facie evidence of the matters stated in the notice.




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