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FHSS Determination

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Newbie

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Hi there,

 

I'm a bit confused with how the FHSS works.

 

I'm self-employed and contributed $15,000 to super as tax-deductible contribution in 17-18 FY. 

I have submited Notice of Intent to Claim to my super fund, and my super fund has withheld 15% as tax.

I haven't lodged my tax return yet.

 

When I'm trying to create the determination, it says:

Have your super deductions and contributions ready
 1. Super deductions (if any) that you have claimed in your tax return for each financial year from 1 July 2017. Get them from your income tax history.
 2. Super deductions you intend to claim if you have not lodged your tax return.
 3. Voluntary super contribution details. You can get these details from your super fund.

I think point 2 is my case.

 

However when I proceed to next step where there are 2 options:

1.  Add each of your voluntary super fund(s) contributions from 1 July 2017 onward.
2.  Add your super tax deductions from 1 July 2017 onward.

If I choose 1, the calculator treats my contribution as non-concessional and calculates the maximum amount as $15000+ (which is incorrect)

If I choose 2 it won't allow me to proceed but keep prompting me "You do not have personal voluntary contribution for this financial year".

 

In addition, my partner has similar situation as me except that she has already lodged the tax return. But when it comes to creating the determination, she also got stuck as I did.

 

Any advice would be greatly appreciated.

 

Regards,

Alex

 

1 ACCEPTED SOLUTION

Accepted Solutions

Best answer

Moderator

Replies 1

Hi @alexyang,

 

Welcome to the Community.

 

As you’re claiming a deduction for your personal super contributions, you need to complete both the ‘Voluntary contributions’ and the ‘Deductions’ section in the determination request.

 

In the ‘Voluntary Contributions’, select ‘Add’ and enter the details of your contribution. It’s a good idea to hit Save after entering the details. If you made more than one contribution, you’ll need to select ‘Add’ again and enter the details of the next contribution.

 

Once you’ve reported all your contributions, you need to complete the ‘Deduction’ details. In this section you enter the financial year you’re claiming the deduction in and the amount you’re claiming as a deduction.

 

After you’ve entered in all your details, you need to read the declaration and select the 'Tick this box to sign this declaration with the identification details you used to log in' checkbox before you can select Submit.

 

Once submitted, you'll be provided with a summary of your determination, including the maximum release amount.

 

Thanks, NicM.

 

2 REPLIES 2

Best answer

Moderator

Replies 1

Hi @alexyang,

 

Welcome to the Community.

 

As you’re claiming a deduction for your personal super contributions, you need to complete both the ‘Voluntary contributions’ and the ‘Deductions’ section in the determination request.

 

In the ‘Voluntary Contributions’, select ‘Add’ and enter the details of your contribution. It’s a good idea to hit Save after entering the details. If you made more than one contribution, you’ll need to select ‘Add’ again and enter the details of the next contribution.

 

Once you’ve reported all your contributions, you need to complete the ‘Deduction’ details. In this section you enter the financial year you’re claiming the deduction in and the amount you’re claiming as a deduction.

 

After you’ve entered in all your details, you need to read the declaration and select the 'Tick this box to sign this declaration with the identification details you used to log in' checkbox before you can select Submit.

 

Once submitted, you'll be provided with a summary of your determination, including the maximum release amount.

 

Thanks, NicM.

 

Newbie

Replies 0

Fantastic! Thank you.

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