Preparing financially

First Home Super Saver Scheme

Save part of your deposit inside superannuation's lower-tax environment — how the release is actually taxed, contribution limits, timing and what happens if you don't buy.

How does the FHSSS work?

The First Home Super Saver Scheme, administered by the ATO, lets eligible people make voluntary super contributions — before tax (salary sacrifice or personal deductible contributions) or after tax (personal non-concessional contributions) — and later apply to release those contributions plus associated earnings to help fund a first-home deposit. Super's lower-tax environment is the scheme's core appeal, but how much you actually get back net of tax depends on which type of contribution you made.

Contribution and withdrawal limits

You can make up to $15,000 of voluntary contributions per financial year, up to $50,000 in total, and apply to release those contributions plus associated earnings (Housing Australia / Australian Government, verified 29 Jul 2026). The ATO determines your maximum releasable amount and issues a formal determination before any property ownership transfers. The minimum age to apply is 18. Couples, friends or siblings buying together can each access their own FHSSS savings toward the same property.

How is the released amount actually taxed?

This is the part buyers most often get wrong. Eligible non-concessional (after-tax) contributions come back at 100% — you already paid tax on that money before it went in, so it isn't taxed again on release. Eligible concessional contributions (salary sacrifice, or personal contributions you claimed a deduction for) are released at 85%. The released concessional amount, plus the associated earnings on your whole FHSSS savings, form the "assessable FHSS amount" — this is added to your assessable income and taxed at your marginal rate, less a 30% tax offset. So the 30% offset applies only to the concessional-plus-earnings portion, not to your entire released amount.

Associated earnings aren't your actual super fund's investment return — the ATO calculates a notional amount using a deemed rate (based on the shortfall interest charge rate), which can end up higher or lower than what your fund actually earned.

When can you request release, and how long does it take?

Get an FHSSS determination before signing an unconditional contract or acquiring the property — it confirms your maximum releasable amount without committing you to withdraw it. You can request the actual release before signing, or generally within 90 days after signing a contract; releasing earlier is usually more practical if you need the money for the deposit itself, since processing commonly takes on the order of 15–20 business days, not instantly. Only one release request is generally available, so check your contribution records and resolve any personal-contribution deduction notice before requesting it.

What if you don't end up buying?

You generally have an initial period (around 12 months from release, sometimes extendable) to sign a contract. If you don't buy, you can typically either recontribute the released amount back into super or leave it out and pay FHSS tax on it instead — check the current rules with the ATO before assuming either path applies to you. Ordinary super contribution caps and your fund's own rules keep applying throughout, and any Commonwealth debts you owe may reduce what you actually receive.

Practical checklist

Before relying on the FHSSS in your deposit plan

• Check your eligibility and current contribution room with the ATO
• Request an FHSSS determination before signing an unconditional contract
• Confirm how much of your specific release amount is concessional vs. non-concessional
• Request the release early — factor in 15–20 business days of processing, not instant access

Questions for a professional

• Based on my actual contributions, how much would be released at 100% vs. 85%?
• What's my estimated assessable FHSS amount, and net tax after the 30% offset?
• How long will the determination and release process take for my situation?
• What happens to my released amount if I don't end up buying within the required period?

Official resources

• First Home Super Saver Scheme
• ATO: First home super saver scheme

Sources and methodology

• First Home Super Saver Scheme — Housing Australia / Australian Government (retrieved 29 Jul 2026)

Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.