How does the First Home Super Saver Scheme work?

The First Home Super Saver Scheme (FHSS) scheme allows you to make voluntary concessional and/or non-concessional contributions up to $15,000 p.a. (and up to $30,000 across all years) into your super fund to save for your first home. You can start making contributions at any age.

However, to be eligible for this scheme you must:

1. be 18 years or older;
2. apply for and receive an FHSS determination from the ATO before signing a contract for your first home or applying for release of your FHSS amounts;
3. have never owned property in Australia; and
4. not previously requested the Commissioner to issue an FHSS release authority in relation to the scheme.

More information about the FHSS scheme and how to release your savings is available via the ATO website.

Changes are being made to the First home super saver (FHSS) scheme and will start on 20 September 2024.

Learn more about the changes to the FHSS scheme.