Can superannuation be used to buy a house?

To give your super time to grow, the funds are ‘preserved’ throughout your working life. This means that usually you can’t get access to your super until you retire. Only then could you withdraw all or part of your super as a lump sum for a home loan deposit, or to pay off any debts. 

There are some exceptional circumstances under which you may be able to get early access to your super, including:

•    becoming disabled (temporarily or permanently)
•    having a terminal illness
•    leaving Australia permanently (if an eligible temporary resident)
•    severe financial hardship or compassionate grounds
•    if you die, in which case your super is released to your valid beneficiaries.

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