On 15 September 2024, changes to the First Home Super Saver (FHSS) scheme commenced. In some limited circumstances, FHHS released amounts may be returned to the member's super fund.
What you need to do
You must be prepared to accept repayments of FHSS amounts from us on behalf of your members. The repayments process will happen outside of SuperStream, and we'll send correspondence to you via Online services for business.
The repaid amount can be credited to any super interest the member holds, and the repayment can be paid out under a later FHSS release authority. The repaid amount is treated as a rollover. It should not be recorded as a reversal of a transaction on the fund’s registry. You may receive a subsequent FHSS release authority from us for your member.
Refund letter
A refund notification letter will be issued to you via Online services for business providing the details of the payment. If you are unable to accept the amount, contact us via the Super Enquiry Service. Use the existing FHSS classification and include ‘FHSS returning monies’ in the subject heading. Do not return the FHSS amount to the ATO until we have responded through the Super Enquiry Service.
Learn more about the changes to the FHSS for APRA funds and for technical information on the FHSS scheme, see GN 2024/1Opens in a new window First home super saver scheme.
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