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

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Note: This table relates only to the provisions of this Act as originally enacted.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).