What is the First Home Super Saver Scheme (FHSSS)?

The FHSSS allows eligible first home buyers to save for a deposit inside their superannuation fund. You can make voluntary contributions to super and later withdraw these contributions along with deemed earnings to help purchase your first home. The scheme offers a tax advantage because contributions are taxed at a lower rate inside super than they would be outside it.

How much can I contribute and withdraw under the FHSSS?

You can contribute up to $15,000 per financial year and up to $50,000 in total over your lifetime. These limits apply to voluntary contributions — both concessional (pre-tax) and non-concessional (after-tax) — that you want to release under the scheme.

What are deemed earnings and how are they calculated?

Deemed earnings are a notional return applied to your FHSSS contributions, calculated using a deemed rate of return set by the ATO (based on the 90-day bank bill rate plus a margin). This rate is applied from 1 July of the financial year after you made the contribution until the day before you apply for release. Your actual investment returns inside super may be higher or lower.

Do I need to apply for the FHSSS or is it automatic?

You need to apply. First, apply to the ATO for a determination of your releasable amount. After receiving this, you can request your super fund to release the funds. The process is done through your myGov account linked to the ATO.

What tax do I pay on FHSSS withdrawals?

FHSSS withdrawals are taxed at your marginal tax rate minus a 30% offset. For example, if your marginal tax rate is 37%, you'll pay 7% tax on the withdrawal. If your marginal rate is 30% or less, effectively no tax is payable on the concessional component.

Can I use the FHSSS if I've owned property before?

No, the FHSSS is only available to first home buyers. You must never have owned a property in Australia — including investment properties — either alone or jointly. There are some limited exceptions for people affected by financial hardship or natural disasters.

How long do I have to use the withdrawn funds?

You must sign a contract to purchase or construct your first home within 12 months of receiving your FHSSS amount. If you don't, you can apply for a 12-month extension. If you still don't purchase, you'll need to recontribute the money to super or pay additional tax (the FHSSS tax shortfall amount).

Can couples both use the FHSSS for the same property?

Yes. If both partners are eligible first home buyers, they can each use their own FHSSS amounts toward the same property purchase. This potentially allows access to up to $100,000 combined ($50,000 each) plus deemed earnings.

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First Home Super Saver Scheme Calculator

Calculate your FHSS benefits, eligible contributions, deemed earnings, and compare with saving outside super.

Updated for 2025-26 with $50,000 lifetime cap.

FHSS Calculator

Frequently Asked Questions About the FHSSS

Common questions about the First Home Super Saver Scheme, eligibility, and withdrawals

Official ATO Information

For official rules, thresholds, and eligibility criteria, refer to the Australian Taxation Office.

View ATO First Home Super Saver Scheme Information

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General Information Only

This calculator provides general information only and does not constitute personal financial advice. Results are estimates based on the inputs provided and current ATO rates. Your actual tax obligations may differ. Please consult a licensed financial adviser before making any financial decisions.

Saving through super is the easy part. Getting the money out at the right time, without an unexpected tax bill — that's where most people get stuck.

The withdrawal process, timing, and tax treatment matter more than you'd expect. Let's map it out before you apply.

Meet Alan O'Reilly — a licensed financial adviser helping first home buyers make smarter decisions with their super and their deposit savings.