First Home Saver Accounts (Further Provisions) Amendment Act 2008 (92 of 2008)
Schedule 1 Amendments applying from 1 October 2008
Income Tax Assessment Act 1997
22 At the end of Subdivision 345-A of Division 345 of Part 3-45
Add:
345-25 FHSA provider that is an ADI (other than an RSA provider) - amounts that cannot be deducted
An *FHSA provider that is an *ADI (other than an *RSA provider) cannot deduct anything for amounts credited to *FHSAs.
345-30 Amounts of tax paid by FHSA providers that are ADIs
An amount is not assessable income and is not *exempt income of an *FHSA provider if:
(a) the amount is paid from an *FHSA to the FHSA provider to enable the provider to make a payment of a kind mentioned in paragraph 31(1)(h) of the First Home Saver Accounts Act 2008; and
(b) the provider is an ADI.