Voluntary contribution to super made after 1 July 2017, can be apply to withdraw for first home deposit, after 1 July 2018.
Voluntary contributions include:
- Undeducted (non-concessional) personal contributions
- Deducted (concessional) personal contributions
- Salary sacrifice contributions.
Up to $15,000 of voluntary contributions per financial year.
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Concessional contributions and earnings that are withdrawn will be taxed at marginal rates less a 30 per cent offset.
NOTE: Legislation is currently being developed for this measure. Please consult legal advise for latest updates.