• First home super saver scheme

    On 9 May 2017, the Government announced that from 1 July 2018 individuals will be able to apply to withdraw voluntary contributions made to super after 1 July 2017 for a first home deposit.

    Voluntary contributions include:

    • Undeducted (non-concessional) personal contributions
    • Deducted (concessional) personal contributions
    • Salary sacrifice contributions.

    Up to $15,000 of voluntary contributions made in a financial year count towards the amount that can be released.

    The maximum amount that can be released is $30,000 of personal contributions plus an associated deemed earnings amount.

    Concessional contributions and earnings that are withdrawn will be taxed at marginal rates less a 30 per cent offset.

    Legislation and supporting material

    Legislation is currently being developed for this measure.

    More information

      Last modified: 10 May 2017QC 51997