- Make voluntary contributions of up to $15,000 a year ($50,000 total) and withdraw them, plus deemed earnings, for your first home deposit.
- 85% of concessional contributions and 100% of after-tax contributions can be released.
- Released amounts are taxed at your marginal rate minus a 30% offset.
- Apply for an FHSS determination before signing a contract.
FAQ
How much can I save with FHSS?
Up to $50,000 of contributions. At $90,000 salary, $10,000 a year for 3 years gives a deposit several thousand dollars larger than saving the same pay in a bank.
Sources (checked 6 November 2026): ATO, First home super saver scheme; ATO individual income tax rates 2026-27; Medicare levy; low income tax offset.