First Home Super Saver Scheme

First Home Super Saver Scheme

Purchase your first home with the help of your super.

If you’re a member of Super SA Select, or have a Flexible Rollover Product account, and you’re looking to purchase or build your first home, you may be in luck.

The Commonwealth Government’s First Home Super Saver (FHSS) Scheme helps you boost your savings for your first home — by letting you build your deposit within your superannuation account.

To build your deposit, you can make voluntary super contributions of up to $15,000 per financial year and contribute a maximum lifetime cap of $50,0001 (existing contribution caps apply to these contributions)2.

And remember you must 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.

As Triple S is an untaxed or tax deferred fund, contributions made to Triple S are not eligible contributions and you cannot withdraw any amounts from Triple S under the FHSS Scheme.

Voluntary super contributions for the First Home Super Saver Scheme

Not all super contributions count towards the First Home Super Saver Scheme. Only voluntary super contributions, plus earnings as calculated by the ATO count towards the FHSS Scheme and can be withdrawn at a later date. These include:
Important Info.svgSuper contributions that do not count towards FHSS Scheme include:
  • Employer contributions
  • Spouse or child contributions
  • Voluntary contributions to defined benefit funds or tax deferred funds (eg Triple S).
  • Government co-contributions

Eligibility for the First Home Super Saver Scheme

Under FHSS Scheme, you may be eligible to withdraw voluntary contributions from your super if —

  • You have not previously owned a property in Australia
  • You’re 18 years of age or older; and
  • You haven’t had voluntary contributions released from your super under the FHSS Scheme before.

You must also

  • Live or intend to live in the home you are purchasing, or intend to as soon as practicable.
  • Intend to live in the property for at least six of the first 12 months after you purchase it, after it is practical to move in.

Getting help with the First Home Super Saver Scheme

The FHSS Scheme is managed by the Australian Taxation Office (ATO).

If you’re interested in purchasing your first home with the help of the FHSS Scheme, you'll first need to make the voluntary contributions into an eligible super fund. You then need to apply to the ATO for a FHSS Scheme determination, which will confirm the amount of super that can be released.

Saving for your first home? Here’s how the FHSS Scheme works

  1. Contact Super SA and check your eligibility.
  2. Make extra contributions to your super fund.
  3. Request a first home super saver (FHSS) determination from the ATO to confirm the maximum amount of super that can be released.
  4. Apply to the ATO to request a release of your super from your fund.
  5. The ATO will request a release of your super from your fund, and withholds the appropriate amount of tax.
  6. The ATO offsets the remaining amount against any outstanding Commonwealth debts.

Once you receive your FHSS funds, and you’re ready to purchase or build your new home, you have some obligations.

  • Not enter into a contract to purchase or construct a home until after your FHSS funds have been released from the ATO
  • Occupy or intend to occupy the premises as soon as practicable, and
  • Occupy or intend to occupy the premises for at least six months of the first 12 months after it is practicable to do so.
  • You have 12 months to enter into a contract to purchase or construct a residential premises. You must notify the ATO in the approved form within 28 days of entering into the contract.
a. Request an extension of time up to a maximum of a further 12 months
b. Re-contribute the FHSS released amount back into your super. You’ll need to notify the ATO by the end of the 12 month period.
c. Keep the released amounts and be subject to FHSS tax. This is a flat tax equal to 20% of your FHSS
d. Declare the amount in your tax return for the year in which you requested the release.

Once you’ve entered a contract to purchase or build a home, don’t forget to let the ATO know within 28 days. You can request your FHSS Scheme determination using your myGov account linked to the ATO’s online services.

Frequently asked questions

  • The First Home Super Saver (FHSS) Scheme was introduced by the Australian Government in the 2017–18 Federal Budget.

    The big idea behind the FHSS Scheme is to help more Australians purchase their first home.

  • The FHSS Scheme can only be used to buy a home (residential premise) or land2 on which you’ll build a home in Australia. You won’t be able to buy a home or land overseas.

    It must be your home, not an investment property.

    Under FHSS Scheme you cannot purchase a mobile home. This includes:

    • Motor homes
    • House boats
    • Caravans

    For more information about where you can buy a home and/or what a ‘residential premise’ is, please visit the ATO website.

  • Before-tax contributions such as a salary sacrifice will be taxed at 15%.1

    After-tax contributions will not be taxed.1

    When you receive your funds, the ATO will withhold tax.  For further information please contact the ATO. If you would like more information about how your contributions may or may not be taxed, contact our Member Services team.

  • Under FHSS Scheme, you need to buy or build a home within 12 months of requesting release of your voluntary contributions.

    If you don’t buy or build a home after the 12 months, you can put the released amount back into your super account

    Alternatively, you can pay a tax equal to 20% of the amount released, removing the tax benefit you received under the FHSS Scheme.

    If you would like more information, contact our Member Services team or the ATO.

1 The $50,000 limit on eligible contributions applies to requests for FHSS determinations made from 1 July 2022. A $30,000 limit on eligible contributions applies to requests made before 1 July 2022. 
2 For more information on fees and taxes, see the Super SA Select Reference guide
3 If you purchase vacant land to build a home on, it is the contract to construct your home that must be entered into to meet the FHSS scheme requirements. The contract to construct that home must be entered into within 12 months (or other period allowed) from the date you requested a release. In this situation you must not have purchased the vacant land before applying for an FHSS determination.
The superannuation schemes administered by Super SA are exempt public sector superannuation schemes and are not regulated by the Australian Securities and Investments Commission (ASIC) or the Australian Prudential Regulation Authority (APRA). Super SA is not required to hold an Australian Financial Services Licence to provide general advice about a Super SA product. The information in this publication is of a general nature only and has been prepared without taking into account your objectives, financial situation, or needs. Super SA recommends that before making any decisions about its products you consider the appropriateness of this information in the context of your own objectives, financial situation, and needs, read the Product Disclosure Statement (PDS), and seek financial advice from a licensed financial adviser in relation to your financial position and requirements.