First Home Saver Accounts & Super

The legislation to support these financial products is now operational. 

While SMSFs cannot offer First Home Saver Accounts (the legislation specifically prohibits SMSFs and other super funds which are not public offer funds from offering such products), the balance of a First Home Saver Account can be transferred into a SMSF at any time.

Consequently, a person who has opened a First Home Saver Account and who has not utilised the balance in the purchase of a home (or who has attained age 65) may transfer the balance to a complying superannuation fund.