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Concessional contributions and earnings that are withdrawn will be taxed at marginal rates less a 30 per cent offset.


Griffin & Associates

79 Denham St, Townsville City QLD 4810

Phone 07 4772 6588

Chartered Accountants