First Home Saver Accounts
A first home saver account is a savings account designed to offer you a simple, tax-effective way of saving for your first home through a combination of government contributions and low taxes.
The Tax Office have put together a great little publication titled The First Home Saver Account – what you need to know.
This short, concise overview of FHSA includes the following topics:
- Eligibility
- The benefits for you
- How it works
- Getting started
- While you have your account
- When you’re ready to buy your first home
- What about the First Home Owner Grant?
- What to do/read next
This publication can be viewed and downloaded in Portable Document Format (PDF) from the ATO website or simply right-click the cover image above and select “save target as” to save The First Home Saver Account – what you need to know to your own computer.
More information
There are several government agencies that provide information on first home saver accounts, including:
- Australian Securities and Investments Commission (ASIC), which has developed a calculator on its FIDO website that might assist you in making a decision about whether these accounts will suit you; and
- Australian Prudential Regulation Authority (APRA), which maintains a list of first home saver account providers.
To save and view this publication you will require a PDF reader.
A free copy of Adobe Reader is available to download.
This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.