FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 4 - GOVERNMENT FHSA CONTRIBUTIONS  

Division 4 - Overpayments of Government FHSA contribution  

SECTION 50   Recovery of overpayments  

50(1)    
This section applies if:

(a) the Commissioner pays an amount by way of a Government FHSA contribution for a person for a financial year; and

(b) either:

(i) the contribution was not payable for the person for the financial year; or

(ii) the amount paid is more than the correct amount of the contribution.

50(2)    
The overpaid amount is:

(a) if the contribution was not payable for the person for the financial year - the whole of the amount referred to in paragraph (1)(a); or

(b) if the amount paid is more than the correct amount of the contribution - the amount by which the amount paid exceeds the correct amount.

50(3)    
The Commissioner may take action to recover the overpaid amount under one or more of the items in the following table, but may only take action under an item if the conditions (if any) specified for that item are satisfied:

Methods for recovering overpaid amount
Item	Action the Commissioner may take to recover overpaid amount	Conditions to be satisfied
1	The Commissioner may deduct the whole or a part of the overpaid amount from any Government FHSA contribution payable for the person.
2	The Commissioner may recover the whole or a part of the overpaid amount from the person (or the person ' s legal personal representative) as a debt due by the person (or the representative) to the Commonwealth.	The Government FHSA contribution must have been paid by the Commissioner to the person (or the representative) or a payment of a kind mentioned in paragraph 31(1)(a) or (e) must have been made from an FHSA held by the person. The Commissioner must give the person (or the representative) written notice of the proposed recovery (including the amount to be recovered). At least 28 days must have elapsed since the notice was given. The amount recovered must not exceed the amount specified in the notice.
3	The Commissioner may recover the whole or a part of the overpaid amount from an FHSA provider or a superannuation provider to which: (a) the Commissioner paid the Government FHSA contribution; or (b) another FHSA provider or superannuation provider transferred the Government FHSA contribution; as a debt due by the FHSA provider or superannuation provider to the Commonwealth.	The amount recovered must not exceed the balance held by the provider for the person. The Commissioner must give the provider written notice of the proposed recovery (including the amount to be recovered). At least 28 days must have elapsed since the notice was given. The amount recovered must not exceed the amount specified in the notice.

Note:

Section 52 provides for the imposition of general interest charge if an amount that the person must pay under a notice given to the person under item 2 or 3 of the above table is not repaid within a certain period.

50(4)    
The Commissioner may revoke a notice given under item 2 or 3 of the table in subsection (3) if the Commissioner is satisfied that it is appropriate in the circumstances to do so.

50(5)    
The total of the amounts deducted or recovered under subsection (3) in relation to an overpayment must not exceed the overpaid amount.

50(6)    
If the Commissioner makes a deduction under item 1 of the table in subsection (3) in relation to a Government FHSA contribution for a person, the Commissioner must notify the person within 28 days after the deduction is made.