The First Home Super Saver Scheme helps Australians boost their savings for a first home by allowing them to build a deposit inside their superannuation, giving them a tax cut.

From 1 July 2018, savings became available to withdraw, as long as you buy your home within 12 months of the withdrawal date.

The purpose behind this scheme is to demonstrate that saving through your superannuation will actually outperform other standard deposit accounts, meaning you can take full advantage when saving for your first home.

The scheme can boost your savings by at least 30 per cent!

Many people might be oblivious to this great incentive and losing money simply by not taking proper advantage of what’s available to them.

Therefore, it’s important to know the ins and outs of how the scheme works if you think it can be of particular benefit to you.

Do you have questions about your own eligibility? It can be understandably confusing about how much to make in contributions and how to do it.

However, if you’re not already aware, there are answers to these FAQs that can alleviate some of the confusion available online.

To learn more about how the First Home Super Save Scheme can help you realise the great Aussie dream sooner, click here.

This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.