What the proposed housing-based super contributions offer
After what seems like waiting an eternity, the government has finally put to Parliament its draft legislation around two of its schemes.
The proposed schemes, the First Home Super Saver and Contributing the proceeds of downsizing to superannuation, are both pieces of legislation that are an attempt to bring into action proposals from the 2017 Federal Budget.
The proposals aim to:
1. assist home buyers to save a deposit through their superannuation, and
2. assist retirees to use some of their superannuation money from downsizing their present living arrangements.