Yes but $15000 post tax savings in a bank is not the same as $15000 pre tax super savings. This story is terrible and lacking in an actual representation of facts.

The FhSs is not the best plan out there. It's complicated sure. But the added benefit is if your fhss contributions earn more than 4.78% which many super funds are closer to 10% returns, the extra goes into your nest egg. I would say this is best suited to people within 2-3 yrs of buying a house who just want to get there a little faster ($5-6k extra is usually months of savings time saved) who can watch how their super is doing. You can pull the money up to 12 months before you buy so if super is going badly you can pull it a bit early and stash in a bank for the last bit.

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What a terrible article and complete misrepresentation of the facts. Firstly, there is a tax offset of 30% for withdrawals - this includes the voluntary concessional contributions and earnings. Secondly, you have completely disregarded the fact both the contribution(if concessional) and earnings are taxed at 15% and not the marginal rate. As far as your expert suggesting a savings account can mirror these benefits - that's complete and utter nonsense. Although I agree the 30K limits is a joke, you have completely misrepresented the facts and disregarded the benefit of reducing your taxable income, as well as paying less on returns. Anyone who reads this article, please look at the legislation and use the calculators available on sites like money smart. This article should be removed.

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This piece is completely out of touch with reality. Even if the facts above are correct (in which they aren't), in what world would $3,549 in additional deposit not matter to someone who is on $56k p.a. For a couple, thats $7,098. If that's not worth the effort in your books, you're probably getting paid too much.
The scheme is solid in concept but where it falls down is around timing off the release of funds. Users of the scheme need to be well prepared and should probably seek professional advice to avoid having signing a contract before funds are released or being put in a position where they don't have funds available because they are yet to be released.

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What a totally inaccurate piece of analysis completely lacking in transparency in terms of the assumptions underlying the bogus claim you can save more outside of super versus inside of super from the crew at compare the pair. Hopefully this author gets the chop.

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Thanks for all the financial advice in the comments. way more helpful than actual article and in line with my own research after talking to my super fund and the ATO

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