First-home buyers weren’t ignored by the budget with a new First Home Super Saver Scheme announced. The new super saver scheme will allow first-time buyers to put up to $15,000 a year, to a maximum of $30,000 under the scheme, into their superannuation.
These funds can later be withdrawn for a home deposit, including any earnings the deposits made.
This means they will have a tax incentive to save more, and it can be taken advantage of as a couple with each claiming $30,000.
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