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Requesting release immediately after notice of intent

Newbie

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Hi All,

 

If I put in a personal contribution to my Super on July 1st, submit a Notice of Intent and then receive the confirmation from my Super fund (e.g. July 8th), can I then immediately request a new determination on July 9th and also request a release?

 

Also, is there a way on the MyGov ATO website to see how much balance of the $30K cap remaining I have left? Or is this something I have to calculate myself? If I have made both salary sacrifice, and personal contributions that I've submitted Notice of Intent for, how do I calculate this?

 

 

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Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @Spamal,

 

If you lodged the notice of intent to claim a deduction and received acknowledgement from your fund, you can send through a new determination. You should confirm with your fund that all paperwork has been processed. Thereafter send in your determination and we advise on the amounts you are requesting. Once we confirm your determination, you can then request a release through the FHSS.

 

Make sure each contribution is eligible, we will check if it matches contributions reported to us by your super fund. You may be required to provide evidence of your contributions prior to us releasing your FHSS amounts to you. Your FHSS request may be cancelled if you provide incorrect information, and you will not be able to apply under the FHSS scheme in the future. Any money your super fund has sent to us will be returned. You can request a determination on more than one occasion.

 

Once you have signed a contract to purchase a property you cannot request a new determination. You only have up to 14days to request a release of your FHSS savings as well.

 

Whilst super information is updated on myGov, it would be best to check directly with your fund for your overall contributions under FHSS.

 

All the best.

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @Spamal,

 

If you lodged the notice of intent to claim a deduction and received acknowledgement from your fund, you can send through a new determination. You should confirm with your fund that all paperwork has been processed. Thereafter send in your determination and we advise on the amounts you are requesting. Once we confirm your determination, you can then request a release through the FHSS.

 

Make sure each contribution is eligible, we will check if it matches contributions reported to us by your super fund. You may be required to provide evidence of your contributions prior to us releasing your FHSS amounts to you. Your FHSS request may be cancelled if you provide incorrect information, and you will not be able to apply under the FHSS scheme in the future. Any money your super fund has sent to us will be returned. You can request a determination on more than one occasion.

 

Once you have signed a contract to purchase a property you cannot request a new determination. You only have up to 14days to request a release of your FHSS savings as well.

 

Whilst super information is updated on myGov, it would be best to check directly with your fund for your overall contributions under FHSS.

 

All the best.