On 15 September 2024, we'll update the First Home Super Saver (FHSS) scheme with the FHSS technical legislative changes. Processes will stay the same, however in some limited cases, 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. You may receive a subsequent FHSS release authority from us for your member. The repaid amount will be treated as a rollover, and this will ensure that the tax component and cashing order are applied correctly. It should not be recorded as a reversal of a transaction on the fund’s registry.
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.
Learn more about the changes to the FHSS for APRA funds.
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