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Using $50K of your super to buy your first home #AusPOL

#AusPOL #Housing #HeiseSays
Liberal’s new housing policy will allow you to use up to $50,000 from your own super to buy your first home. I prefer this to Labor’s proposal, and it’s a step in the right direction in allowing greater access to our super.

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  1. Super needs to be brought back home to Oz & invested in nation building into capital infrastructure projects here at home.

    The problem with Govt intervention in the housing market is this.

    The scammers in society will be planning “how to get their hands on that cash windfall”.

    Real estate agents will up their commissions fees to get hold of it. Settlement agents will up their fees. House sellers will increase their asking prices.
    Govts will increase stamp duty and land taxes.
    Local Govt will increase building approvals fees.
    Developers will increase land prices.
    Builders will increase building costs.

    Lastly, housing debt is “bad debt” it doesn’t bring you any positive cash flow benefits.

    If you used your super yo invest in say commercial property, where your business operated within that commercial property brings you income (positive cash flow above and beyond the interest cost of the mortgage, then THAT is good debt.

    This is just another scam to steal your savings basically.

    Super itself is a bad investment because you get double taxed on it and inflation means that your dollars when you get them back aren’t worth what they were worth when you first earned them and contributed them to super.

    So the whole super scheme was a scam from the start.

    People would be better off to just operate self managed super where you CAN invest in commercial property and use your super savings as a deposit to borrow for a mortgage which is “good debt”.

    Good debt is how the rich got wealthy.
    Using other peoples money to make profits above and beyond the cost of using other peoples money.

    The whole idea of compulsory super under Keating was the create a pool of funds that the rich could use to get richer, and due to inflation over time be really easy to pay back at much deflated value.

    Governments of any persuasion are masters at getting their hands in your pocket and this is yet another example.

  2. How much more corruption is going to be allowed to continue to prop up this absolute debacle of a Country. Even the idea of a Free Market left the shores long, long ago. The greatest Ponzi ever created. Property and Australia is easily fixed, LET. IT. CRASH.

  3. Many retirees use their super to clear their montage when they retire. In an interview with former Prime Minister Keating who was instrumental in setting up super he stated that was one of the intended purposes of superannuation.

  4. Vote correctly people!

    The 4 majors take the 4 bottom spots with the sitting member last!

    Use your preferences wisely and lets get a whole heap of Minors and Independants in for a hung parliament to keep the grubs in check👌

    One Nation, Independants and UAP 1st downwards

    It is time for a change…
    It is time to sack them ALL

  5. Super is there to support those who can't for one reason or another responsebly save. In the end it also saves the taxpayers hundreds of millions meaning for generations to come the government and young taxpayers which is key a ageing population as less people work and pay tax. Offering a 2% down payment or using super doesn't actually help anyone but big business and relestate agents which gain more money. Who is this done by the government? Well I'm sure the liberal government is loving the over a billion dollars in tax which they're collecting from this overpriced market. All these policies are doing is capping young people's ability to ever be financially stable. Real change would only be achieved if a government committed to building more homes to try and match supply for homes with demand. It's not like Australia of all nations is lacking the space required for this innovative.

  6. but what if we used our super for covid.
    or what if your super is gone from fees.
    or what if the government took your super.

    government did nothing to look out for your super but they want you to use it well before the reason they took your money.

    all of my super was taken in fees.

  7. It's your money and gives you the right to use your money to get out of the rental cycle while homes get more expensive faster than you can save the minimum deposit.
    I wish this was around when I was trying to get a home.
    Let's see foreigners forbidden from buying Australian residential property.
    Yes billionaire Chinese are pushing up Australian property prices

  8. Wish either party would stop f’ing with houses. It needed to correct. Ave house is 40% over valued which is BS. At least liberals plan is better than Labours. Either way they aren’t crashing any time soon. Guess my kids will live with me forever

  9. Way to late to setup sceams like this when look at the economy, look at the way money been managed at the way things are going l wouldn't trust my money anyware unless l phyisically own it 100%.

    When shit really hits the fan you see alot of companies and individuals loose out on alot

  10. Using super will simply inflate the housing price again. Inflating land price does not work in the long term especially in liberal market. It is a risky move.

  11. Another policy that will increase housing costs. So many people are telling me house prices will drop but I disagree for the coastal strip where I live. Flood zones and a lack of transport options will drain the market somewhat. APRA has -interest warning!

  12. At the end of the day Morrison is a liar , He and his cronies are only interested in propping up there own property portfolio because that's the only thing in Australia making a return , He is out to destroy this and future generations and make them totally reliant on government hand outs ( The social credit system) ( You will own nothing & be happy -. Funny how he has left this to the last week to bring it out before the voting AND is going after the young adults who cant save & rub two cents together to make four cents – WE ARE ALL f-d What are the next generation of pollies going to be like ?? GOD HELP US !!!
    Well Morrison I am a baby boomer who is selling up – You have just made me jack up my house by 50 k – Well done !!! My children and everyone else's children have no chance in HELL now of owning a house, especially when you are going to strip away award wages and security down the track that I had the luxury of having. And No Morrison I will not put 300k of my sales proceeds into my super fund so you can tell me what to do with it. —- It will be hidden from you & your grubby cronies – RIP Scomo –

  13. Yes it's far better than Labour's policy
    Tax payers are not fitting the bill in any way SUPER IS YOURS a lot off people think it's governments money I had an argument years ago with a guy who said you shouldn't be allowed to access it off just turned 60 and was eligab l e to claim once a year off I wanted and he thought it was wrong I said at the time your union mates get more from ur r super than u will

  14. Allowing release of super for house deposits will put upward pressure on house prices and therefore squander funds withdrawn from super, so what's the point? It takes years for average folk to add $50k to their super balances.
    This fire doesn't need any more fuel added to it. Moreover, many first home buyers would barely have $50k in their accounts, and those who are well off don't need to touch their super. I don't necessarily agree with compulsory super, but the system is what it is, and there are no plans to get rid of it. Lock it away.

  15. The reason why there's less supply is because people are sitting on houses without renting them out, living in them or selling them. "Holiday homes" is usually what people call them but sometimes they only use them once a year or less.

  16. And what if you can't finance the house for some reason? Lets say you lose your job, or interest rate is out of control or you get hit by a car and you can't run your business anymore. This means that you lost the house and your super. You could sell it if you can't finance it but again this is taking on more risk.

  17. The amount of people in these comments saying that it's the workers fault that they didn't save enough for retirement while we simultanously have a cost of living crisis with inflation at 5.1% and wage growth at 2.5% is extremely concerning.

  18. Also don't forget, if the house prices pump another 200-300k this means that the rent will go up too and you will see an absolute disaster in this country….far worse than TERRA LUNA :). I think there are too many dangers around this.

  19. Your forgetting WHO states "you will own nothing". THIS is the end game, THEY WILL transfer that wealth to themselves with high land taxes, high interest rates, super will be heavily taxed in the next policies. We can take fight back people. They want to control food & energy 🤮 Open a trust account $3k, Borrow from credit unions if you must borrow, solar, permaculture & community is what will save you. Do not rely on the government to provide. Live Off-Grid. Minimalism.

  20. Those people who spent the last 3 years locking away $50k of additional voluntary super contributions under the First Home Super Saver Scheme would be mighty pissed if, on the eve of when they're about to deploy that $50k, that the government changes the rules now that those who didn't salary sacrifice anything can now access $50k from their guaranteed contributions. Now they would be competing in the market with someone who otherwise may not have been a player. At a minimum house prices will go up $50k, wiping out that $50k saving. All for what? A vote winner 1 week before an election? You might say, well they can just access another $50k like everyone else, but some people actually want a diversification of assets and not have 90% of their net worth tied to property. The liberal plan actually takes away choice. It gives a incentive to someone who has been already lazy with their money by not taking advantage of the super saver scheme! (Anyone on a reasonable income saving for a house with a horizon of about 2-3 years should have realised the tax advantage of the scheme.) The liberal policy disproportionately advantages city dwellers on medium and high incomes. The labour policy on the other hand is more focused on specific issues and has three different schemes addressing housing affordability, housing for frontline people like nurses/police and regional housing. The person in my example above wouldn't be 'competing' with the people that labour are focusing on. I really don't like the government continually messing with superannuation, every time they add a new scheme like this it increases the administration costs of the funds and our fees go up. There's also the additional admin costs to the government for the ATO managing all this stuff too.

  21. Mate , Both parties have shit policies regarding homes , cut immigration and greedy people from buying more than 3 homes .That would be a step in the right direction. Young people wouldn't have 50k in super .

  22. As a tradie I believe Liberal party running the country with a whole heap of one nation and independent senators will be the best of outcomes , I don't like either major party but if push come to shove Labour has always sold us out to foreign powers and corporations .
    Examples are
    Lima Declaration
    UN thanks to Gough
    Chinese buy up
    UK and US buy up
    and possibly more that's Been kept behind close doors .

  23. Banks will tell you that owning a home is dead money ….. A mortgage has you shackled today . The winners are anybody who bought a home twenty years ago and capitalised on their collateral … Its we Babyboomers who didn't get involved with Superannuation because the banks needed more money to play with and Superannuation was the answer . In my early wage earning's we were geared to save and women weren't able to get a mortgage until 1980 . Only one wage was could be relied on . Thats why we old buggers and politicians have so much …

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