Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 345.50

             (1)  An amount of earnings or other return credited to an * FHSA you hold is not your assessable income and is not your * exempt income.

             (2)  A payment made from an * FHSA you hold is not your assessable income and is not your * exempt income.

             (3)  A * Government FHSA contribution payable for you in accordance with the First Home Saver Accounts Act 2008 , and paid in accordance with Part 4 of that Act, is not your assessable income and is not your * exempt income.

             (4)  A * capital gain or * capital loss that you make from a * CGT event happening in relation to a right to, or any part of , an * FHSA that you hold is disregarded.

Table of sections

345-100    Liability for FHSA misuse tax

345-110    Due date for payment of FHSA misuse tax

345-115    General interest charge