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total amount that can be withdrawn from salary sacrificed contributions

Newbie

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Replies 2

Hi all. I was looking to get the most benefit from the fhbsss. I understand that money salary sacrificed is 15% . I was just wondering if you I could put a total of $34000 in and withdraw the full $30000 thanks.
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Most helpful response

Devotee

Replies 1

The $30,000 limit relates to the money going into the fund, not the amount you withdraw.  If you are making salary sacrifice contributions you can withdraw a maximum of $25,500 (85% of $30,000) plus the notional earning on that amount.

2 REPLIES 2

Most helpful response

Devotee

Replies 1

The $30,000 limit relates to the money going into the fund, not the amount you withdraw.  If you are making salary sacrifice contributions you can withdraw a maximum of $25,500 (85% of $30,000) plus the notional earning on that amount.

Newbie

Replies 0

Thanks alot for clearing that up for me mate