Taxation Administration Act 1953
Note: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 138-10 FIRST HOME SUPER SAVER DETERMINATION 138-10(1)
A first home super saver determination is a written determination stating: (a) your *FHSS maximum release amount; and (b) the amount of each of the following components that make up your FHSS maximum release amount:
(i) your *concessional contributions;
(ii) your *non-concessional contributions;
(iii) your associated earnings.
[ CCH Note: S 138-10(1) will be amended by No 75 of 2023, s 3 and Sch 4 item 18, by inserting the heading, effective 15 September 2024. For application and transitional provisions, see note under s 131-30 . The heading will read:
]First home super saver determination
138-10(2)
You may request the Commissioner, in the *approved form, to make a *first home super saver determination if: (a) you have never held:
(i) a freehold interest in real property in Australia; or
(ii) a lease of land in Australia (including a renewal or extension of such a lease) as described in paragraph 104-115(1)(b) of the Income Tax Assessment Act 1997 ; or
(b) you are 18 years or older; and (c) you have not previously requested a release authority under Division 131 in relation to a first home super saver determination that has been made in relation to you.
(iii) a company title interest (within the meaning of Part X of the Income Tax Assessment Act 1936 ) in land in Australia; and
[ CCH Note: S 138-10(2) will be amended by No 75 of 2023, s 3 and Sch 4 items 19 - 22, by inserting the heading, substituting para (a)(i), inserting " a legal interest in " before " a lease of " in para (a)(ii) and substituting para (c), effective 15 September 2024. For application and transitional provisions, see note under s 131-30 . The heading and para (a)(i) and (c) will read:
]Requesting a first home super saver determination
(i) a legal interest in an estate in fee simple in real property in Australia; or
(c) subsection (2C) applies for you.
138-10(2A)
If the Commissioner determines that you have suffered a financial hardship, you are taken to have satisfied paragraph (2)(a) .
138-10(2B)
The regulations may specify the circumstances in which the Commissioner is to determine that a person has suffered a financial hardship for the purposes of subsection (2A) .
[ CCH Note: S 138-10(2C) will be inserted by No 75 of 2023, s 3 and Sch 4 item 23, effective 15 September 2024. For application and transitional provisions, see note under s 131-30 . S 138-10(2C) will read:
]
138-10(2C)
This subsection applies for you if:
(a) you have not previously made a valid request for a release authority under Division 131 in relation to a *first home super saver determination made in relation to you; or
(b) one of the following subparagraphs applies for each of your previous valid requests for such a release authority:
(i) you have withdrawn the request;
(ii) the Commissioner has revoked the release authority issued in relation to the request (whether or not the release authority had previously been varied);
(iii) after one or more amendments of the request, you have withdrawn the latest of those amended requests;
(iv) the Commissioner has revoked the release authority issued in relation to the latest of one or more amendments of the request (whether or not the release authority had previously been varied).
Making a first home super saver determination etc.
If you make a valid request under subsection (2) , the Commissioner must make a *first home super saver determination in relation to you.
138-10(4)
The Commissioner may amend or revoke a *first home super saver determination at any time before a release authority relating to the determination is issued under Division 131 .
[ CCH Note: S 138-10(4) will be repealed by No 75 of 2023, s 3 and Sch 4 item 24, effective 15 September 2024. For application and transitional provisions, see note under s 131-30 .]
138-10(5)
Notice of a determination given by the Commissioner under this section is prima facie evidence of the matters stated in the notice.
[
CCH Note:
S 138-12 and 138-13 will be inserted by No 75 of 2023, s 3 and Sch 4 item 25, effective 15 September 2024. For application and transitional provisions, see note under s
131-30
. S 138-12 and 138-13 will read:
at any time before the Commissioner begins treating, under Division
3
of Part
IIB
, any credit to which you have become entitled under section
131-65
in relation to a release authority relating to the determination. Like other first home super saver determinations, an amended determination will need to comply with Subdivision
138-B
.
SECTION 138-12 WITHDRAWING OR AMENDING YOUR REQUEST
138-12(1)
You may, by notifying the Commissioner in the *approved form, withdraw or amend your valid request made under section
138-10
if:
(a)
in the case of amending your request
-
you satisfy paragraphs
138-10(2)(a)
to
(c)
; and
(b)
the Commissioner has not already made a *first home super saver determination in relation to your request.
138-12(2)
Your amended request is treated as a valid request under section
138-10
.
138-12(3)
Withdrawing your request does not prevent you from making a later request under section
138-10
.
SECTION 138-13 AMENDING OR REVOKING A FIRST HOME SUPER SAVER DETERMINATION
138-13(1)
The Commissioner may decide to:
(a)
amend a *first home super saver determination made in relation to you if you satisfy paragraphs
138-10(2)(a)
to
(c)
; or
(b)
revoke a first home super saver determination made in relation to you;
Note:
138-13(2)
The Commissioner may make a decision under subsection (1) :
(a) on the Commissioner ' s own initiative; or
(b) on application by you to the Commissioner in the *approved form.
138-13(3)
If a *first home super saver determination is amended or revoked under subsection (1) at a particular time, then at that time:
(a) each of the following ceases to be valid or in force:
(i) any request under section 131-5 for a release authority in relation to that determination;
(ii) any release authority issued in relation to such a request; and
(b) any entitlement under section 131-65 you had to a credit relating to such a request ceases.
Note:
Paragraphs (a) and (b) apply to a request or release authority whether or not it has been amended or varied.
138-13(4)
Notice of an amended determination given by the Commissioner under this section is prima facie evidence of the matters stated in the notice. For the purposes of paragraph 131-5(3)(c) , the Commissioner is treated as issuing the amended determination at the time this notice is given.
]
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.