‘Stupid’: Housing plan slammed
YOUNG people may soon be able to access their superannuation to help buy their first home, as part of a sweeping package of housing affordability measures to be unveiled in next month’s budget.
According to The Australian, the government favours a model that would allow first-home buyers to divert superannuation contributions into a home savings account, which would need to be matched dollar-for-dollar by contributions from personal savings.
It comes as Treasurer Scott Morrison, in a speech to the Australian Housing and Urban Research Institute in Melbourne on Monday, pointed to a Productivity Commission report from 2015 which found the most frequent use of superannuation lump sum paym…
Read the full article at: http://www.news.com.au/finance/superannuation/government-mulls-access-to-superannuation-for-first-home-buyers-in-housing-affordability-package/news-story/2b42eb726c91a461628746cfd89213e4