First Home Super Saver Scheme (FHSSS)

The First Home Super Saver Scheme (FHSSS) allows eligible Australians to save for their first home inside their super fund, using the concessional tax environment to build a deposit faster than a regular savings account. Since its launch in 2018, the maximum releasable amount has increased to $50,000 per person (or $100,000 per couple).

How the FHSSS works

You make voluntary contributions to your super (salary sacrifice or personal deductible contributions)
These contributions are taxed at 15% inside super, instead of your marginal tax rate
When you're ready to buy, you apply to the ATO to release the contributions plus deemed earnings
The released amount is paid to you (with tax adjustments) to use toward your home purchase

Contribution limits for FHSSS

Limit	Amount
Maximum voluntary contributions per year	$15,000
Maximum total contributions across all years	$50,000
Concessional contributions cap (total, including SG)	$32,500/year (2026–27)

Only voluntary contributions count — your employer's compulsory SG contributions are excluded. You can use salary sacrifice contributions, personal deductible contributions, or voluntary non-concessional contributions (though concessional contributions provide the biggest tax benefit).

Example: You earn $90,000 and salary sacrifice $15,000 into super for the FHSSS. Instead of paying 30% + 2% Medicare = $4,800 in tax on that $15,000, you pay 15% = $2,250. That's $2,550 more toward your deposit each year. Over 3 years, that's about $7,650 in tax savings.

Deemed earnings

The ATO calculates a deemed rate of return on your FHSSS contributions — currently based on the 90-day bank bill rate plus 3 percentage points. This deemed return is added to your releasable amount regardless of your fund's actual investment performance (better or worse).

How to release your FHSSS savings

Apply to the ATO for a FHSSS determination — this tells you how much you can release
If you proceed, submit a FHSSS release request through MyGov
The ATO instructs your super fund to release the amount
Funds are paid to you within 15–25 business days
You must sign a contract to buy or build a home within 12 months (extensions available)

Eligibility rules

You must be 18+ to request a release
You must never have owned property in Australia (including investment property)
You must intend to live in the property for at least 6 of the first 12 months
Each person can only use the FHSSS once

Tax on release: When the FHSSS amount is released, the concessional contributions component is added to your assessable income but you receive a 30% tax offset. Your marginal rate will effectively apply minus 30%, and you'll settle up at tax time. Non-concessional contributions are released tax-free.

Is the FHSSS worth it?

For most first home buyers earning above $45,000, yes. The tax savings accelerate your deposit by 15–30% compared to saving in a regular bank account. The main drawbacks are the complexity of the process and the strict timelines for purchasing. Use our contribution calculator to model the tax savings.

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By Jarrod, Editor
Independent superannuation research · about the editor ✓ Fact-checked · updated July 2026
Source: APRA & ATO data

Important information The information on SuperFind is general in nature and does not take into account your personal financial situation, needs, or objectives. It is not personal financial advice. Before making any financial decisions about your superannuation, consider whether the information is appropriate for your circumstances and consider seeking advice from a licensed financial adviser. Super fund data including fees and performance returns shown on this site were current as of July 2026 — always verify figures on the fund's website. Past performance is not a reliable indicator of future performance. Data sourced from APRA, ATO, and individual fund disclosures. Read our methodology for how figures are calculated and our about page for editorial policy. SuperFind is a DecisionLab publication.