If you are thinking about buying a house AT SOME TIME DURING YOUR LIFE (i.e. nearly everybody), you should definitely check out some of these links about First Home Saver Accounts, and you should definitely do it now (even if you won’t be buying a house in the next ten years)…
I wish I had known these things a while ago., because to get the free money you should start saving now (even if it’s just a little bit)… Follow this guide and let the savings roll in!
1. Peruse this webpage:
Highlights from the page include:
“Each year the government will make a 17% contribution on amounts you deposit.”
“The interest you earn on the account is only taxed at a rate of 15%.”
2. If you are not interested, stop reading this email and burn some of your money. If you are still interested, read this short article:
3. If you are still not interested, stop reading this email and burn some of your money. If you are still interested, check out this account:
Highlights from this account include:
- Earn a high 5.50% p.a.* on every dollar
- No account keeping fees
- Boost your savings with an extra 17.00% p.a. contribution from the Government (based on your contributions of up to $5,500 each financial year)
- Contributions will be tax free
- Investment earnings (or interest) will be taxed at 15%
And from the FAQ page:
If I purchase a house but haven’t met the criteria for the First Home Saver Account what should I do?
The 4 year qualifying period to release the funds will remain, however the First Home Saver Account will be able to be paid into an approved mortgage at the end of this period. After you purchase a house you can no longer contribute any further funds into your First Home Saver Account; however you will still be paid interest and receive the Government Contribution for that Financial Year. Alternatively you can close the account and pay the balance into your superannuation fund.
And that’s my guide to free money for people thinking about buying a home in the next 4 to 50 years. Hope this helps…