Buying your first home is a big step. Want some help getting a deposit together ?
Did you know that most banks, credit unions and financial institutions have accounts designed to help you save. These first home owners savings accounts offer generous incentives and are a great way to grow your savings.
There are many benefits which you can make the most of including :
* The government makes a 17% contribution on the first $5500 you deposit each year, this means an extra $935 for you.
* Any interest you earn is tax free.
Some of the conditions of these accounts are :
* You need to save a minimum of $1000 per year for 4 years before you can withdraw the money.
* The maximum amount you can deposit in these accounts is $85000.
*The money must be used for the purchase of a home. If you don't use it for real estate the deposit is added to your superannuation.
For more information see the Australian Taxation Office website :
http://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/00250962.htm&page=1&H1
Call us for help in purchasing your first home. iRIS Property 02 45677254 www.irisproperty.com.au
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