Federal budget boost for first home buyers
If you’re looking to take that first step on the home ownership ladder, the Federal Government’s First Home Super Saver Scheme will help you save for a deposit by salary sacrificing into your superannuation account.
- available from 1 July 2017;
- voluntary contributions of up to $15,000 per year and $30,000 in total
- concessional tax rate of 15%; and
- contributions and deemed earnings, net of tax, able to be withdrawn from 1 July 2018.
Want to know about how the Scheme could benefit you? Head to the Government’s online estimator www.budget.gov.au/estimator to find out more about the advantages of saving for a home deposit through superannuation.