First Home Super SAVER Scheme

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  The First Home Super Saver Scheme (FHSS) is an Australian Government initiative administered by the Australian Taxation Office (ATO) that helps first home buyers save for a deposit using their own superannuation. The scheme has been in place for several years and is designed to make it easier to build a deposit sooner by taking advantage of the tax benefits available within super.

Through the FHSS Scheme, you can make extra voluntary contributions to your super fund on top of what your employer already pays. Because these contributions are generally taxed at a lower rate than most people’s income, your savings can grow faster compared to saving for a deposit outside of super.

You can make voluntary contributions either before tax through salary sacrifice, or after tax as personal voluntary contributions. You can contribute up to $15,000 per financial year, with a total contribution cap of $50,000 across all years. 

When you’re ready to buy or build your first home, you can apply to the ATO to withdraw your eligible contributions. 

The FHSS Scheme can be used whether you are buying on your own or with others. Couples, siblings or friends can each access their own eligible FHSS savings to purchase the same property. If one buyer is ineligible due to having owned property before, this does not affect the eligibility of the other buyers.

To be eligible to use the First Home Super Saver Scheme, you must be 18 years or older, although you can start making contributions before turning 18. You must never have owned property in Australia, including investment properties, vacant land, commercial property, certain long-term leases, or company title interests, unless you qualify under financial hardship provisions. You must be planning to live in the home you buy or build, have made eligible voluntary contributions to your super, and not have previously withdrawn money under the scheme. There is no requirement to be an Australian citizen or an Australian resident for tax purposes.

Before getting started, it’s important to check that you meet the eligibility criteria and confirm with your super fund that they participate in the FHSS Scheme. Some funds may charge fees or have insurance considerations when releasing money, so it’s worth understanding this early.

After requesting a release, you generally have 12 months to sign a contract to purchase or build a home. The ATO will usually grant an automatic 12-month extension if needed, however the total time allowed cannot exceed 24 months from the date you request the release. If you do sign a contract, you must notify the ATO within 90 days of the contract date.

Tax is withheld from your FHSS release to help meet your end-of-year tax obligations. For most people, this is calculated at their marginal tax rate (including the Medicare levy), less a 30% tax offset.

The First Home Super Saver Scheme can be used alongside other federal or state first home buyer incentives. 

If you are saving for your first home to live in, the First Home Super Saver Scheme can be a valuable tool to help boost your deposit sooner. While it won’t suit everyone, it can be particularly helpful for first home buyers — including single buyers — who want to make the most of the tax advantages available through super.

*Information sourced from https://firsthomebuyers.gov.au/first-home-super-saver-scheme and correct as of December 2025