Income Tax Assessment Act 1997

Div 345 repealed by No 70 of 2015, s 3 and Sch 1 item 103, effective 1 July 2015.

Div 345 inserted by No 45 of 2008, s 3 and Sch 1 item 31, effective 26 June 2008.

S 345-1 repealed by No 70 of 2015, s 3 and Sch 1 item 103, effective 1 July 2015. S 345-1 formerly read:

SECTION 345-1 What this Division is about  

FHSAs (short for first home saver accounts) are accounts, life policies and interests in trusts that comply with requirements in the First Home Saver Accounts Act 2008 .

This Division sets out the income tax treatment of the financial institutions that provide FHSAs (Subdivision 345-A ) and of individuals that hold FHSAs (Subdivision 345-B ).

Certain payments from FHSAs are subject to FHSA misuse tax (Subdivision 345-C ).

S 345-1 inserted by No 45 of 2008, s 3 and Sch 1 item 31, effective 26 June 2008.