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) | $30,000/year (2025–26) |
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).
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
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.