What is the tax rate?
The City of Chandler imposes a one and one half percent (1.5%) transaction privilege tax except on the following business activities:The legal responsibility to pay the tax is that of the business. However, the business is permitted to pass the tax through to and collect the tax from its customers. Any tax so collected must be remitted to the City.
Contributions will not be subject to tax when deposited into the account. Interest will be taxed at a rate of 15%. Withdrawals will be tax free if they are made in accordance with the rules governing First Home Saver Accounts. First Home Saver Account balances will be exempt from the income and assets test for social security purposes.
