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Talk of a $5M Cap on Superannuation Balances., page-229

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Old Engineer

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08/03/23

21:57

Post #: 66666770
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Originally posted by sholtz: ↑

Had my bank manager in today and asked him about this possibility. He stated the income from super could be used to service a mortgage, just have to provide a plan as taking out a 30 year loan and running to full term not going to happen. I took this as you could still have the 30 year term for payment setting but demonstrate a plan to retire the debt early.

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If you're retired why not take the money out of your super, pay off the mortgage and get closer to the $3M cap?
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