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Re: FHSSS - Concessional Contribution after Determination received but before Release

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Newbie

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Replies 1

Hi Team,

 

In order to utilise FHSS Scheme I have to apply an FHSS determination first before signing the contract. However, my recent concessional contribution was made already as per my salary statement but it will take 6 business days to arrive on the super account. I will need to sign the contract within the next 3 business days so I have to apply the FHSS determination now. The determination won't have the last concessional contribution included but after I signed the contract and request the release it will be available on my super account for release.

I want to know if the last concessional contribution will be added in the final FHSS release amount even though it's not included in the determination letter?

 

Thanks

Ethan

1 ACCEPTED SOLUTION

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Best answer

ATO Certified

Enthusiast Super Specialist

Replies 0

Hi @EthanWang,

 

The determination will only review eligible funds available in your super account at the time of your request and would not include contributions not yet received.

 

If you already have a FHSS determination and have signed a contract before making a valid release request, you have 14 days to request a release of your FHSS amounts as per your existing determination.

 

This is further outlined on the ATO’s First Home Super Saver Scheme page under Applying to release your savings – Requesting a determination

 

Thanks,

Mark

1 REPLY 1

Best answer

ATO Certified

Enthusiast Super Specialist

Replies 0

Hi @EthanWang,

 

The determination will only review eligible funds available in your super account at the time of your request and would not include contributions not yet received.

 

If you already have a FHSS determination and have signed a contract before making a valid release request, you have 14 days to request a release of your FHSS amounts as per your existing determination.

 

This is further outlined on the ATO’s First Home Super Saver Scheme page under Applying to release your savings – Requesting a determination

 

Thanks,

Mark