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First Home Super Saver Scheme

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Can I contribute $15000 after tax to my super fund on 1 July 2018, advise my super fund that I wish to claim a tax deduction on this for the 2018-2019 financial year, then withdraw the eligible amount of this contribution in December 2018 (under the FHSSS) as if it were a concessional contribution, to purchase my first home, then claim a tax deduction for the full $15000 in my 2018-19 tax return.

 

Or would I have to salary sacrifice the $15000 into my super from 1 July 2018 until December 2018, before withdrawing the eligible amount under the FHSSS, to gain the tax deduction advantage.

 

Many thanks

Carolyn

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Community Support

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Hi @crsid,

 

Welcome to our Community!

 

You need to meet the eligible criteria to claim a tax deduction for personal super contributions. You can find more information to work out if you're eligible to claim personal super contributions as a deduction on our website.

 

However, you can't claim a tax deduction for voluntary super contributions released to you under the FHSS scheme or FHSS amounts that you've recontributed to your super funds. You can find information about what you can't claim, here.

 

If you have further questions regarding eligibility to claim tax deductions on personal super contributions or the FHSS scheme, you can phone us on 13 10 20 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

 

1 REPLY 1

Best answer

Community Support

Replies 0

Hi @crsid,

 

Welcome to our Community!

 

You need to meet the eligible criteria to claim a tax deduction for personal super contributions. You can find more information to work out if you're eligible to claim personal super contributions as a deduction on our website.

 

However, you can't claim a tax deduction for voluntary super contributions released to you under the FHSS scheme or FHSS amounts that you've recontributed to your super funds. You can find information about what you can't claim, here.

 

If you have further questions regarding eligibility to claim tax deductions on personal super contributions or the FHSS scheme, you can phone us on 13 10 20 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

 

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