Federal Register of Legislation - Australian Government

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First Home Super Saver Tax Act 2017

Authoritative Version
Act No. 133 of 2017 as made
An Act to impose first home super saver tax, and for related purposes
Administered by: Treasury
Originating Bill: First Home Super Saver Tax Bill 2017
Registered 14 Dec 2017
Date of Assent 13 Dec 2017
Table of contents.

Commonwealth Coat of Arms of Australia

 

 

 

 

 

 

First Home Super Saver Tax Act 2017

 

No. 133, 2017

 

 

 

 

 

An Act to impose first home super saver tax, and for related purposes

  

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Imposition of tax................................................................................. 2

4............ Amount of tax..................................................................................... 2

 


Commonwealth Coat of Arms of Australia

 

 

First Home Super Saver Tax Act 2017

No. 133, 2017

 

 

 

An Act to impose first home super saver tax, and for related purposes

[Assented to 13 December 2017]

The Parliament of Australia enacts:

1  Short title

                   This Act is the First Home Super Saver Tax Act 2017.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this Act

At the same time as Schedule 1 to the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Act 2017 commences.

However, the provisions do not commence at all if that Schedule does not commence.

1 July 2018

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3  Imposition of tax

                   First home super saver tax payable under section 313‑60 of the Income Tax Assessment Act 1997 by a person is imposed.

4  Amount of tax

                   The amount of the first home super saver tax is 20% of the person’s assessable FHSS released amount (within the meaning of the Income Tax Assessment Act 1997).


[Minister’s second reading speech made in—

House of Representatives on 7 September 2017

Senate on 18 October 2017]

(184/17)