Loan Experts

Can I Withdraw My Super to Buy a House?

The simple answer: Yes, you can. However, there are requirements that a member should meet before he can use the fund for buying a house. The member must live in the purchased property for a minimum of 6 months in the first 12 months of ownership.

So for people asking Can I Withdraw My Super to Buy a House, again, it is a big YES. This is assuming that you are buying vacant land or property and not a mobile home (caravan, motor home, RV, etc.).

But then, how much can you withdraw? Are you allowed to use the entire amount you have in your funds?

Can I Withdraw my Super for a House Deposit?

While it is impossible to use your entire super savings, the First Home Super Saver Scheme allows members to withdraw an eligible portion of their contributions to help them buy their first home.

Any member can make contributions to his super up to $30,000 per year. Thus, if a couple is buying a property together, then they can potentially put as much as $60,000 as a deposit from their SMSF.

However, there are restrictions as to how much you can contribute to your SMSF fund per year. Going beyond the limit may cause you to pay extra tax.


To be eligible to use the first home super scheme:

  • You are at least 18 years of age
  • You are not currently an owner of a property or vacant land
  • You are using the first home scheme for the first time
  • You are looking to purchase a property with the next twelve months

Upon receipt of the money from your super account, you then have a full year to either:

  • Buy a property or,

Re-contribute the money back to your account (in case of failure to buy a property)