How does it work?
Any voluntary contributions you’ve made into your super from 1 July 2017 could be eligible savings as part of the scheme – there’s no need to open a separate account.
Any before-tax contributions (for example, salary sacrifice) will be taxed at 15% on the way in, and any investment earnings on these contributions will also be taxed at 15%.
From 1 July 2018, you’ll be able to withdraw these funds by applying to the Australian Taxation Office (ATO). Once determining you’re eligible, the ATO will arrange for your money to be paid to you from your super fund.