First home super save scheme (FHSSS)

Discussion in 'Superannuation' started by StewyD32, Jul 20, 2018.

  1. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    Hi all,
    Is anyone currently participating in this or have a good overview on its workings.
    The reason why I'm asking this is that I'm looking into this but only for roughly 6 months max and wondering if it is worth this just for this time period and if not are there other options out there that may be better.

    Im planning to buy closer to the end of the year give or take, so I would salary sacrifice most of my wage into this until then, leaving enough for essentials and a bit of a buffer. With this time frame in mind I would not get the full yearly limit allowed into the FHSSS ($15k) but probably a large portion of it.

    (If i'm correct I'm roughly 14% better off making pre-tax contributions in this rather than getting paid as normal)

    Also this might sound silly but is there a minimum timeframe the money had to stay in the super, for example if I see a house in months time and want to buy can I take it out. I haven't found any info stipulating this.

    Is it worth if for this time frame? Any help would be great.
     
  2. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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