Super drained to help house prices soar

16 May, 2022

Scott Morrison’s latest attack on superannuation would force workers to raid their retirement savings to get on the property ladder.

In an attempt to shift blame for the housing affordability crisis, Morrison is encouraging first home buyers to take up to $50,000 from their super.

The policy has been widely derided and described as a “full frontal assault” on super.

The proposed Super Home Buyer Scheme would allow first homebuyers to withdraw up to 40% (to a maximum of $50,000) from their super.

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