Using Superannuation For Home Deposit. Can I use early release superannuation as a home loan deposit? Can you buy a house using your superannuation, including buying a home to live in, house deposits, investment properties and first homes. The scheme works by allowing you to make voluntary contributions (both pre-tax and post-tax) into your super fund, and then withdraw these contributions, along with the associated earnings, to help fund the purchase of your first home.
How does the First Home Super Saver Scheme (FHSSS) work? Nicole Heales from nicolehealesfinancial.com.au
While super is meant for retirement, using the FHSSS or an SMSF you can use superannuation to buy a house. 2 You can contribute up to $15,000 of eligible contributions (in any one financial year).
How does the First Home Super Saver Scheme (FHSSS) work? Nicole Heales
While you can't withdraw your super early for a house deposit, there's still a way your super account can help you: it's called the First Home Super Saver Scheme The First Home Super Saver Scheme (FHSSS) allows first home buyers to make extra voluntary superannuation contributions to save on tax and build a deposit faster. The scheme works by allowing you to make voluntary contributions (both pre-tax and post-tax) into your super fund, and then withdraw these contributions, along with the associated earnings, to help fund the purchase of your first home.
Couple reveal why they used their superannuation to buy their first home. The scheme works by allowing you to make voluntary contributions (both pre-tax and post-tax) into your super fund, and then withdraw these contributions, along with the associated earnings, to help fund the purchase of your first home. While super is meant for retirement, using the FHSSS or an SMSF you can use superannuation to buy a house.
Personal Superannuation Continuum Financial Planners, Brisbane, Noosa, Warwick. Learn more about the First Home Super Saver Scheme and how you can use superannuation for a home deposit with Compare the Market. Learn 3 options for buying a property using your superannuation