FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 4 - GOVERNMENT FHSA CONTRIBUTIONS  

Division 1 - Eligibility for and amount of a Government FHSA contribution  

SECTION 36   Whether a Government FHSA contribution is payable  

36(1)    
A Government FHSA contribution is payable under this Act for a person for a financial year if:

(a) the person is an individual; and

(b) one or more personal FHSA contributions are made during the financial year for the person; and

(c) either:

(i) the person has lodged an income tax return for the income year corresponding to the financial year; or

(ii) the person has given a notice in accordance with section 37 for the income year corresponding to the financial year; and

(d) the return or notice (as the case requires) states that the person satisfied the residency requirement in subsection (2) for at least part of the income year corresponding to the financial year; and

(e) the person satisfied the residency requirement in subsection (2) for at least part of the income year corresponding to the financial year.

Note:

A person ' s acquisition of a qualifying interest in a dwelling after a personal FHSA contribution has been made for the person in that financial year, does not of itself stop a Government FHSA contribution from being payable for the financial year.

36(2)    
The residency requirement is that the person is a resident of Australia for the purposes of the Income Tax Assessment Act 1936 .