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I have a general query in regards to the First Home Saver Scheme (FHSS).
If I were to make an after tax voluntary contribution of $15,000.00 to my superannuation fund and then claim a tax deduction for this amount by filing a Notice of Intent with my super, how much of this $15,000.00 can I withdraw under the First Home Saver Scheme?
According to the ATO website I should be able to withdraw 100% of non-concessional (after-tax) contributions.
Can you please clarify?
Thanks for your response.
Can you please clarify what the ATO means when they say I can withdraw 100% of my non-concessional (after-tax) amounts?
If you make an after-tax contribution and choose not to claim a tax deduction, the contribution is non-concessional and you can withdraw 100% of the amount.
If you make an after-tax contribution and elect to claim a tax deduction, the contribution becomes concessional and you can withdraw 85% of the amount.
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