On 7 December 2017, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017 passed Parliament. This Bill introduces:
- First Home Super Saver Scheme (FHSSS), which allows eligible individuals who make voluntary super contributions on or after 1 July 2017 to withdraw these contributions (up to a certain limit) together with associated earnings for the purpose of purchasing their first home, and
- Downsizer Contributions, which are non-concessional contributions of up to $300,000 (per person) to superannuation that can be made by individuals aged 65 years or over from the proceeds of selling their main residences.