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FHSS Contract sign and notification

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Newbie

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As per ATO website, 

"When you are ready to receive your FHSS amounts, you need to apply to us for a FHSS determination and a release.

You can sign your contract to purchase or construct your home either:

  • from the date you make a valid request to release your FHSS amounts
  • before making a valid request to release your FHSS amounts.

If you sign your contract to purchase or construct your home before making a valid request to release FHSS amounts, you'll need to:

  • have an FHSS determination before you sign
  • make a valid release request within 14 days of entering that contract."

I made a request to have FHSS determination on 02 March 2020. I received the determination then and there. I also received a formal letter from ATO on 03 March. Then I signed the contract on 03 March. After that I requested for a release on 12 March. 

 

Now I want to notify ATO about the contract signing. But whenever I am trying to put the contract date on the Notify Us page in ATO website, It is showing an error -  "You cannot have contract date before request release date". 

 

I clearly followed ATO prescribed way. But why am I not allowed to put the contract date? Is it a bug? I need to inform ATO within 28 days of contract signing. What other option do I have?

 

Thanks in advance for your help.

1 ACCEPTED SOLUTION

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Best answer

ATO Certified

Community Support

Replies 0

Hi @auyon

 

Thanks for you post.

 

Yes, it is a known issue. While we would prefer that you submit your notification online, you will need to give us a call so that we can process your notification over the phone.

 

For more information about how you can phone us, have a look at our website. We understand that the lines are busy at the moment and appreciate your patience.

 

The reason for the issue is due to the changes that were made to the first home super saver (FHSS) scheme last year. You can read about the important changes to the first home super saver scheme on our website.

 

Before the changes you wouldn't have been able to sign a contract before requesting your FHSS release. As you know, you can now sign a contract up to 14 days beforehand. The online notification hasn't taken that change into account.

 

Hope this helps.

 

Thanks, ChrisR

1 REPLY 1
Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @auyon

 

Thanks for you post.

 

Yes, it is a known issue. While we would prefer that you submit your notification online, you will need to give us a call so that we can process your notification over the phone.

 

For more information about how you can phone us, have a look at our website. We understand that the lines are busy at the moment and appreciate your patience.

 

The reason for the issue is due to the changes that were made to the first home super saver (FHSS) scheme last year. You can read about the important changes to the first home super saver scheme on our website.

 

Before the changes you wouldn't have been able to sign a contract before requesting your FHSS release. As you know, you can now sign a contract up to 14 days beforehand. The online notification hasn't taken that change into account.

 

Hope this helps.

 

Thanks, ChrisR