First Home Saver Accounts Are Here
The Labor Government has recently passed legislation which will see the introduction of First Home Saver Accounts, as promised by Prime Minister Rudd in his election campaign. By providing a combination of lower taxes and Government contribution, the new accounts are intended to offer a simple, tax effective solution to help first home buyers kick start saving for their first home. These new accounts will be available to potential Australian first home buyers from financial institutions, including banks and some super funds, as of 1 October 2008. According to the eligibility criteria, in order to open a First Home Saver Account, the taxpayer needs to:
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First Home Saver Accounts Are Here
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