FHSS, or the First Home Super Saver Scheme, is a government initiative that allows first-time homebuyers to use their superannuation savings to help them purchase a home. If you’re a first-time homebuyer looking to claim FHSS, there are a few things you need to know.
Eligibility for FHSS
To be eligible for FHSS, you must meet the following criteria:
- You must be a first-home buyer, meaning you have not previously owned a property in Australia.
- You must be 18 years or older.
- You must not have previously used the FHSS scheme.
- You must have held a superannuation fund for at least 90 days before making a request to withdraw your savings under the FHSS scheme.
How to claim FHSS
To claim FHSS, you will need to follow these steps:
- Make voluntary contributions to your superannuation fund. These contributions can be made either as a lump sum or as regular contributions over time.
- Wait at least 90 days from the date of your last contribution before making a request to withdraw your savings under the FHSS scheme.
- Submit a request to withdraw your savings under the FHSS scheme to the Australian Taxation Office (ATO). You can do this online, or by mail.
- Provide the ATO with proof of your eligibility for the FHSS scheme, including evidence of your first-home buyer status and proof of your voluntary contributions to your superannuation fund.
- Once your request has been approved, the ATO will release your savings to you.
Things to keep in mind
- The maximum amount you can withdraw under the FHSS scheme is $30,000 per person or $60,000 per couple.
- You will be required to pay tax on the amount you withdraw under the FHSS scheme. The tax rate will be based on your marginal tax rate, plus an additional 30%.
- You have up to 12 months after receiving the FHSS scheme amount to enter into a contract to purchase or construct a home.
- If you don’t buy the home within 12 months, you’ll be required to repay the FHSS scheme amount, plus the tax you paid to your super fund.
FHSS Payment Procedure
- Eligibility determination for the First Home Super Saver (FHSS) scheme, which includes being at least 18 years old and not having previously owned property in Australia.
- Making voluntary contributions to your superannuation fund, up to the FHSS cap of $30,000 for individuals and $60,000 for couples.
- Applying for an FHSS determination from the Australian Taxation Office (ATO) to confirm your eligibility and the amount that can be released from your superannuation fund.
- Signing a contract to purchase or build a home within 12 months of receiving the FHSS determination.
- Applying to the ATO for the release of the approved amount from your superannuation fund.
- Using the released funds to purchase or build your first home.
- Repaying any remaining FHSS amount to the ATO within 14 days of selling the home or if you no longer intend to purchase a home.
Benefits of FHSS Determination
- Allows individuals to save money for a first home using their superannuation account, which typically has a lower tax rate than a regular savings account.
- Allows individuals to make voluntary contributions of up to $15,000 per financial year and $30,000 in total towards a first home.
- The contributed money can be withdrawn, along with associated earnings, for the purpose of buying a first home.
- The withdrawals are taxed at the individual’s marginal tax rate, minus a 30% offset.
- The scheme allows individuals to take advantage of the power of compound interest to help them save for a first home faster.
- It provides an additional savings avenue for first-home buyers
- Helping to increase housing affordability for first-home buyers.
The First Home Super Saver Scheme (FHSS) allows first-time homebuyers to use their superannuation savings to purchase a home, with certain eligibility and process requirements. Keep in mind the maximum withdrawal amount, tax rate, and time frame to buy a house. A good way to start saving for a home.
How to Find the Best Shipping Company and Save Money on Shipping
Shipping is one of the most expensive things you will do in your life. It can be easy to find a cheap shipping company if you know where to look, but sometimes it is hard to find that perfect company and still save money. You should be aware of the Several factors that go into freight forwarding.
Some tips for finding the best shipping company include:
– Use Google’s advanced search feature, which can narrow down results based on your specific needs
– Check shipping rates on Amazon so you know what they cost before you get anything shipped
– Check reviews online to make sure people have a good experience with the company
– Make sure the company offers a good return policy
What is a Shipping Company?
A shipping company deals with the transport of goods from a point of origin to a destination.
Shipping companies are key for international trade and international business. This industry is dominated by a few large companies who control the global market share. In order to survive, these companies have to provide services at lower costs than their competitors.
It can also be thought as an organization that has been created for transport or logistics purposes in general. The specific type that ships goods is called “a freight forwarder” while other types include “transport brokers” and “logistics providers”. Freight forwarders are mostly concerned with movement.
How to Find the Best Shipping Company for You
We all know how important delivery of the product is. For businesses, it can be the difference between profits and losses.
But getting the product to your customers’ doors can be really expensive, especially when you are using shipping companies that don’t provide efficient services.
It can be difficult or expensive to figure out which shipping company is best for your needs. That’s why we created this guide on how to find the best shipping company for you!
What’s the Best Way of Shipping?
As ecommerce becomes an integral part of our lives, the desire to purchase goods online has increased. In an effort to save time and money, many people have chosen to ship their goods through a courier or postal service rather than using a shipping company.
Shipping or freight companies are not designed for individuals but for big businesses.. As such, they don’t provide individual services, like finding loads of people who want to send something or what is the cheapest way of shipping goods. To find these answers you would need to contact individual couriers and ask them about the shipping rates for your specific items.
As such, it leaves you with a lot of research and planning ahead of time which can be very time-consuming and difficult if you’re not familiar with what you’re looking for.
Some companies and organizations ship goods via a freight forwarder. This is the best way to ship your goods because they have connections to the shipping lines and provide discounts when you find loads to ship in bulk order. However, if you are looking for the cheapest way of shipping your goods, then you should consider using a freight forwarder. If you want to use an airfreight delivery service, then you need to make sure that they have enough experience with international shipments before signing up for their services.
This is typically determined by where your product is going as well as what type of container it needs to be shipped in.
Top 5 Duties You Should Ask Before Choosing a Shipping Company
As a business owner, you want to make sure that you and your company are in the best possible hands. That is why you should be sure that your chosen shipping company is going to do their job well for you.
Below are five important things that you should ask about a shipping company before hiring them.
– How long have they been in business?
– What type of experience do they have with shipping?
– What will their cost be?
– Are they insured and bonded?
– When are they available to ship my goods?
Conclusion: Start Using a Trusted Shipping Company Today to Save Money & Hipster Points
Shipping is a pain, and it can be expensive. It may not seem like a big deal when you are getting just one thing from Amazon, but when you’re sending out five items to your friends, it adds up. In order to save money, we have to think about all the things we buy online and being careful about what we purchase. Plus, when you do purchase something online and send it to someone else for free or cheap shipping, it’s just a nice gesture on your part.
To save money or even hipster points in the world of marketing today, companies need to use their shipping company of choice.
Best Ways to Keep Your Car Clean During Winter
Winter can be such a challenging time of the year for many a car owner. You are already struggling with winter. Now imagine your car suffering too due to corrosion from the salt on the road.
Consequently, keeping your car clean in winter can be a not so straightforward task. You imagine having to clean the vehicle and wipe off the snow from the windscreen only to come back tomorrow with more. You can also collect the various bug and tar remover for cars in the market.
It is, however, paramount that you keep your car clean in winter. That’s down to the snow sticking onto the undercarriage and exposing the vehicle to salt. We all know how corrosive salt can be.
So, what are some of the ways one can keep their car clean in winter? We have outlined a few ways here for your benefit.
Don’t Go to Work with Your Car
Absurd, isn’t it? But is there a better way to keep your car 100 percent clean? We bet there isn’t. If you have the option of using the bus to work or can carpool with a neighbor, why not try it?
It is often said it is better to prevent something than to remedy it. Why not then stop the car from getting dirty by leaving it at home?
You will avoid exposing the car to more dirt and, consequently, only have to do light cleaning. Who wouldn’t want that?
Don’t understand the relationship between driving safely and keeping the car clean? Picture drifting around at high speed on a snow-covered road sparking off snowstorms and other muck.
Results? The car gets a coating of salt, mud in addition to the snow and other muck. Such will give you a hell of a time cleaning. Yeah, yeah, we understand sometimes you might be late and need to cruise away, just don’t make it a habit.
Another way you can drive safely and keep your car clean is by driving a safe distance from the next vehicle. That will ensure the dirt the other cars kick up doesn’t fall on your car.
Use Rubber Mats Instead of Carpets
We understand carpets in your car add up some warmth for your feet. But imagine getting with all that snow and dirt on your feet, then stepping onto the carpet. It would be disastrous and might even lead to corrosion of the car’s steel bodywork.
If possible, cover the carpets with rubber mats. Rubber mats are considerably easier to wash, and dirt doesn’t stick too hard onto them.
Imagine the happiness you’ll get jumping into your car with your muddy shoes but not having to worry about the cleaning being difficult. Convenient, isn’t it?
Get that Protective Waxing
The part of your car most susceptible to damage due to the snow and dirt is the exterior. What with all that salt on the road that falls on the car surface as you speed away. That’s why you have to invest in protective waxing.
The waxing will coat the exterior and prevent corrosion from the salt that might fall onto the car. If done well, the waxing will last you well over three months.
Remember to do it in late autumn, however. That’s because it is easier to wax when it’s warm than when the weather is cold.
Wash the Car More Frequently
Are you they type of people who wash their car only when it gets really, really dirty? Well, if you’re to keep it clean in winter, you might have to cut back on that habit.
Try washing it after every few days, let’s say something like every ten days. Get the picture? A pressure washer will come in handy here as you will effortlessly wash away the snow fog and salt.
Remember to do it during the day so that the car gets enough time to dry. If you wash it in the evening, the temperature drop that occurs at night means the car won’t dry sufficiently.
Keeping your car clean in winter doesn’t have to be a complicated affair. Just follow the ways we have mentioned, and you will have your favorite machine in pristine condition each time. All the best.
Do employment background checks help create a better customer experience?
The customer is always right. If you’re a business owner you know that and you’ve probably told your employees a million times the customer should always be happy, or else they might take their business elsewhere. The problem is what can Australian business owners do to make sure this is always the case? Can background checks help with that?
The importance of pre-employment background checks
The employees are the face of your company, especially those who interact with your customers on a daily basis. Many Australian companies have strict dress codes for those employees who work directly with the customers, but looks aren’t everything.
To understand the importance of criminal police checks, let’s examine a hypothetical situation. Say you own a shoe store visited by hundreds of women of all ages every day.
What if one of your salespersons happens to be a guy with a history of sexual harassment? Can you even imagine what a nightmare experience one of your customers might have if that guy starts making inappropriate comments or touching her legs while presenting her with various pairs of shoes? Many women are afraid to say anything in such a situation because they might be ashamed of what just happened, but you can bet that customer will never set foot in your store again. And will tell all her friends to stay away.
Or let’s take another scenario, with an employee with a criminal record for various acts of violence. A short-tempered guy might easily become nasty if not downright violent with a demanding customer. Yes, some customers can be very difficult, but your staff should go out of their way to accommodate them because that’s how business works.
How to make police checks part of your hiring strategy
No business wants to be dragged into a public scandal and the only way to avoid that is to make sure your employees are not dangerous. One way of doing that is checking their criminal history.
To avoid awkward situations, you can write that down in the job ad. ‘Selected candidates will have to submit to a national police check or an ancc police check from a character check agency like ANCC’. They’ve been informed now and if, for some reason, they do not want to have a background check they’d better not apply for that position.
Should this question surface during the job interview, your hiring manager can explain the reasoning behind this decision – the company wants to avoid being dragged into a public scandal. Also, add that the company uses the services of an online character check agency, so this won’t inconvenience the candidate in any way.
Another argument is that should such a situation appear, it’s not just the employee at-fault who might be facing charges, but also the company for failing to ensure public safety. At the very least, the company might be sued for negligent hiring.
Knowing that a candidate doesn’t have a criminal record doesn’t guarantee they won’t be causing any sort of trouble in the future, but the risks are significantly lower.
Then you can look at other things you need to do to create the best possible experience for your customers, like providing regular training for your employees and having them permanently monitored.
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