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EP. 1506 – FIRST HOME BUYERS USING THEIR SUPERANNUATION AS A DEPOSIT TO BUY!!! WHAT WHAT!? 😲🏠 Sounds too good to be true? It’s not. 💥
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Content provided by Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stankovic, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, and Josh Wapshott. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stankovic, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Michael Burgio, Cleo Whithear, Stevan Bubalo, Bidhan Shrestha, Thomas Sims, Jonathan Vescio, Harry Lorcas, and Josh Wapshott or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
🏠💥 Secret weapon for first-home buyers: use your super to save your deposit faster (legally).
It’s the FHSS Scheme and here’s how it works:
- Salary-sacrifice extra into super → taxed at 15% (often much lower than your normal tax).
- You can contribute up to $15k/yr (lifetime $50k cap).
- When you’re ready, withdraw your eligible contributions (generally 85% of concessional + 100% of non-concessional) + earnings for your deposit.
Why it’s good: people save deposits ~30% faster.
Need-to-knows:
• Must be 18+ and intend to live in the home 6 of 12 months.
• One-time use. Sign a contract within 12 months of release.
• Pairs perfectly with the 5% deposit / no LMI guarantee (from 1 Oct).
Drop “FHSS” for our quick explainer + checklist.
#FirstHomeBuyer #FHSS #SydneyProperty #NorthernBeaches #RealEstateTips
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