English
The following are deemed to be deductible payments into the home savings account during the savings period:
- The deposits provided for in the agreement
- Any additional deposits
- Administrative fees for the agreement
- The interest paid on savings on 31 December each year
The tax incentives must be reimbursed if, before the end of the 10-year period:
- The amount of savings released after allocation is not directly allocated to a property-related investment
- The contract is terminated and the savings are refunded
The tax incentives will not be reimbursed if:
- The home savings account agreement was terminated due to the death or permanent disability of the saver
- The home savings account agreement is terminated after expiry of the 10-year commitment period