First Home Super Saver Tax Act 2017

1 Short title

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

2 Commencement

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.

Note: This table relates only to the provisions of this Act as originally enacted.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

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 Income Tax Assessment Act 1997 by a person is imposed.section 313-60 of the

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)