The First Home Saver Accounts (FHSA) will operate from 1 October 2008.
There have been some changes since the original proposal was first released. I’ll be writing in more detail on the FHSA soon (there’s a lot to cover).
Basically, eligible taxpayers make deposits into the accounts and the Government will partly match these contributions. Earnings on the accounts will be taxed at the low rate of 15%.
Look out for more information coming soon!
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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