Thursday, October 2, 2008

First home saver account facts

  • Only first home buyers can apply.
  • You must be between 18 and 65.
  • Limit one account per customer.
  • You must save $1000 a year to get the 17 per cent government contribution.
  • You can't take the money out until you buy a home at least four years down the track.
  • If you change your mind about buying, the money goes into your super fund.
  • Earnings are taxed at 15 per cent.

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