FHSS claim before Notice of Intent to Claim

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(Initiate)Initiate

12 Jan 2021

Hi ATO community,

First of all thanks for all the information and the help provided here.

I have an issue where FHSS was determined, requested and released and the super (Hostplus) forgot to apply 15% to the personal direct contribution (non-concessional) and on the ATO FHSS side it was claimed as concessional contribution.

So to add some history we did this last year FY2019-2020:

Deposited each $15000 to our super directly, so it is a non-concessional contribution.
Filed Notice Of Intent to Claim forms to our super, making it a concessional contribution.
Super deducted 15%, $2250 respectively
So a balance of $12750 for FHSS purpose

Now this year FY 2020-21, we did the same:

Deposited another set of $15000 each to our accounts
Filed Notice of Intent to Claim forms
Super deducted 15% on my wife's account only and forgot on mine
Filed in ATO FHSS determination with $25500 eligible concessional contribution, $0 non-concessional contribution and $242 earnings
Filed in ATO FHSS release request of $25500 concessional contribution and $242 earnings, and withholding rate of 4.5% (34.5% marginal tax rate less 30%offset)
Hostplus super released $25500 + $242 to ATO
ATO release the amount less 4.5% witholding tax to our respective bank accounts

After reviewing all of this and so much stress on buying a house.. I realized and wonder why only my wife received in the mailbox from super the acknowledgment letter where in fact we both received separate emails that they received the $15000 and the forms.

So a timeline here (all of this individually in both emails and website portal):

Dec-10-2020 - directly deposited $15000 each
Dec-11-2020 - Sent message to super if they received $15000?
Dec-12-2020 - Received message from super and confirmed receipt of $15000
Dec-14-2020 - Sent the Notice of Intent to Claim form via email, also informed them that form was sent via email in the website portal
Dec-15-2020 - Received message from super and confirmed receipt of Notice of Intent to Claim form
Dec-15-2020 - Saw that they deducted 15% on my wife's account and my mistake also didn't double checked on mine
Dec-16-2020 - Filed FHSS ATO determination
Dec-17-2020 - Filed FHSS Release request
Jan-07-2021 - FHSS money released

Now, what your opinions on this?

- Private ruling?

- I already emailed Hostplus.

- Can this still be corrected? I know I should wait for the acknowledgement letter, my mistake.

Regards,

Val

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BlakeATO

(Community Support)Community Support

13 Jan 2021

Hi @valcaro,

Generally, once a super fund becomes aware of an error in their reporting or account keeping, they have 30 days to correct it. You should actively get in contact with the super fund to follow up on this to ensure they correct everything.

However, given the strict rules surrounding FHSS, it would be in your best interest to speak with early engagement, and likely to apply for a private ruling depending on what our early engagement team advises.