The first home super saver (FHSS) scheme was introduced in July 2017 to assist first home buyers save for a deposit in the tax effective superannuation environment.

In the May 2021 Federal Budget, the government announced that they would be increasing the maximum amount that could be withdrawn to $50,000. This provides up to $100,000 between a couple, and financial advisers and superannuation funds have noticed a considerable increase in enquiries about the scheme.

This article provides an overview of how the scheme works – written by Julie Steed and published by FirstLinks.

For more information, speak to a member of the SMSF services team.