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  • 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.

    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 associated earnings.

    Concessional contributions and earnings that are withdrawn will be taxed at marginal rates less a 30 per cent offset.

    Further details about eligibility and the amounts and types of contributions that can be made under this scheme can be found here.

    Contributions made under this scheme are not a new type of contribution. They are voluntary contributions made to your superannuation fund(s). You do not need to notify your fund that these contributions are being made for the purpose of this scheme, and do not need to establish a separate special account with your fund.

    Legislation and supporting material

    The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Act 2017External Link and First Home Super Saver Tax Act 2017External Link became law on 13 December 2017.

    The legislation includes a financial hardship provision. Regulations will be available prior to 1 July 2018 specifying the circumstances that the Commissioner is to consider when determining if an individual has suffered a financial hardship. We will update our web content when the regulations become available.

    See also:

      Last modified: 18 Jan 2018QC 51997