✨Check out this video to effectively use this scheme🏡 - 5 Mistakes That Makes First Home Super Saver Scheme (FHSSS) Useless in 2024 kzitem.info/news/bejne/22iYs4t3cmOoqqA&ab_channel=RuiShi
@SnowofLight
19 күн бұрын
Wow. Almost screwed myself over - that'll teach me to read the rules. I did a determination, but its been 20 days since I signed the contract and havent released the funds yet! But the land titles in October, so I'll request them in September instead 😅
@OZRuiShi
19 күн бұрын
It's great that you caught that in time! Reading the rules carefully can definitely save you from potential issues. Requesting the funds after the September change sounds like a good plan. Based on the current rule, you'll be subject to FHSS tax if the release is after 14 days of signing the contract. Good luck with your land purchase!
@SnowofLight
19 күн бұрын
@@OZRuiShi Almost cost myself two years of max contributions :( What is the FHSS tax? Marginal tax rate -30%? Wouldn't this have been the case to begin with? So based on the new rules in September, am I allowed to make a new determination on the 15th of September for the scheme or am I stuck with the one I made in this year July?
@OZRuiShi
19 күн бұрын
@@SnowofLight Thanks for your comment! Based on the rules before 15th of September 2024, FHSS tax is a penalty tax (20%) if the scheme is not used according to the rule. I can't give a specific answer to your situation, so it's best to consult your accountant or ask the ATO for clarification. Hope this helps!
@frankgyetuah-boadi601
29 күн бұрын
So good
@OZRuiShi
29 күн бұрын
Thank you! I'm glad you enjoyed it! 😊
@WinterUme8
17 күн бұрын
Do i need to tell ATO that im going to contribute Salary Sacrifice before i start ?
@OZRuiShi
17 күн бұрын
No, you don't need to inform the ATO before you start making salary sacrifice contributions. You simply need to arrange it with your employer. 😊
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