First home saver accounts scheme

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This Scheme will be abolished. New accounts opened on or after Budget night will not be entitled to any Government co-contribution. For existing accounts, the Government co-contributions will cease from 1 July 2014.

Any tax and Centrelink concessions associated with new or existing accounts will cease from 1 July 2015. Account holders will be able to access their account balance without restriction once the relevant legislation has been introduced.