Withdrawing a Lump Sum

Please note: 

• Since 1 July 2018, eligible prospective first homebuyers are allowed to withdraw voluntary superannuation contributions (and, an amount of associated earnings) that they have made to their superannuation account for the purpose of purchasing or constructing their first home. This is known as the First Home Super Saver Scheme (FHSSS).
• These voluntary contributions, which must be made within existing superannuation contribution caps, include both concessional (i.e. personal deductible contributions and salary sacrificed amounts) and non-concessional contributions.
• The amount available for withdrawal is up to $15,000 of voluntary contributions per financial year (up to a total of $50,000 across all years) plus associated earnings. When money is withdrawn, amounts that were contributed as concessional contributions, and also associated earnings, are taxed at your marginal tax rate, including the Medicare Levy, less a 30% tax offset, while amounts withdrawn that comprise non-concessional contributions are tax-free.