Draft ‘housing affordability’ law – to implement a ‘First Home Super Saver Scheme (where up to $30k can be withdrawn from a superannuation fund to pay a deposit on a first residence) and also a ‘Main Residence Downsizing Scheme’ (where up to 2 people can make a non-concessional superannuation contribution, of up to $300k each)
On Fri 21.7.2017, Treasury released a draft of the Treasury Laws Amendment (Reducing Pressure on Housing Affordability) Bill 2017 to implement two of the 2017-18 Budget measures related to housing affordability – being two that had to do with superannuation. Treasury also released draft legislation for other measures designed to reduce pressure on housing affordability recently (see related…