I need to clarify the following scenario.
If you have a Self-managed Super Fund, are you able to use any of the funds in providing a deposit for a house ( First Home Buyer)?
If we are talking about existing funds in super, the answer is no… But we mention in passing the First Home Super Saving (FHSS) scheme, which is open to all eligible participants whether or not they have a SMSF.
Currently, under the FHSS scheme, you can apply to have a maximum of $15,000 of your voluntary contributions from any one financial year included in your eligible contributions to be released. Up to a total of $30,000 of contributions over all years. You will also receive an amount of earnings that relate to those contributions.
From 1.7.2022 the $30,000 maximum will increase to $50,000.