- Some Australians have used the governments early access to super scheme in desperate bid to buy a home.
- Despite being ineligible for it, they have simply declared themselves to be infinancial hardship in order to withdraw up to $20,000 of their superannuation or $40,000 for couples to use as a home deposit.
- This government let house prices go through the roof with negative gearing so they can deal with the consequences of first home buyers doing whatever [they] can to get in, one told Business Insider Australia.
- Visit Business Insider Australias homepage for more stories.
Having long-been priced out of the market, many young Australians are beginning to dip into their retirement savings in an effort to buy a home.
While Australia…
Read the full article at: https://www.businessinsider.com.au/early-super-withdrawal-home-deposit-mortgage-application-2020-7