How is the FHSS release taxed?

Concessional contributions are taxed at your marginal rate minus a 30% offset. Non-concessional contributions are not taxed on release as you already paid tax on them.

What happens if I don't buy a home?

If you don't sign a contract within 12 months, you can apply for an extension, re-contribute to super, or pay FHSS tax on the released amount.

Can I use FHSS with other first home buyer schemes?

Yes, FHSS can be combined with the First Home Guarantee, state stamp duty concessions and the First Home Owner Grant where eligible.

First Home Super Saver (FHSS) Calculator

Estimate how much you can withdraw from super for your first home deposit

See your maximum releasable amount and 30% tax offset under the FHSS scheme

FHSS Contributions

Enter your eligible First Home Super Saver contributions. Cap $50k total, $15k per year.

Concessional contributions ($)

Salary sacrifice or personal contributions you claimed a deduction for. 85% is releasable.

Non-concessional contributions ($)

Personal voluntary contributions (no tax deduction). 100% is releasable.

Assumed earnings rate (% per year)

Used to estimate associated earnings. ATO uses a prescribed rate; this is an estimate.

Average years in scheme

Your FHSS Estimate

Maximum amount you may be able to release for your first home

Total eligible contributions$15,000

Releasable contributions$13,500

Estimated associated earnings$1,500

Maximum releasable amount$15,000

30% FHSS tax offset$4,500

The released amount is assessable income but you receive a 30% tax offset, reducing the tax you pay.

This is an estimate only. You must request an FHSS determination from the ATO before buying. Eligibility and actual amounts depend on your circumstances. See the ATO First Home Super Saver Scheme for full rules.

How to Use This Calculator

1Enter your total concessional (before-tax) FHSS contributions
2Enter your total non-concessional (after-tax) FHSS contributions
3Adjust the assumed earnings rate if needed
4Enter how many years your contributions have been in super
5See your maximum releasable amount and estimated tax offset

What Is the First Home Super Saver Scheme?

The First Home Super Saver (FHSS) scheme lets first home buyers save a deposit inside super, where contributions grow faster due to lower tax rates. You can then withdraw these voluntary contributions plus deemed earnings to buy your first home.

You can release up to $50,000 in contributions (up to $15,000 per year). Released amounts are taxed at your marginal rate minus a 30% offset, making it more tax-effective than saving outside super.

FHSS Eligibility and Limits

Maximum release: $50,000 in voluntary contributions can be released, plus associated earnings.
Annual limit: Up to $15,000 of voluntary contributions per financial year count toward FHSS.
Concessional contributions: Salary sacrifice or personal deductible contributions (taxed at 15% going in).
Non-concessional contributions: After-tax contributions (not taxed going in, not taxed coming out).
Deemed earnings: Calculated at the shortfall interest charge rate (around 4-5%), not actual fund returns.

Using FHSS Effectively

•Make concessional contributions to get the 15% vs marginal rate tax advantage twice (going in and coming out)
•Request a determination from the ATO before applying for release to know your exact releasable amount
•You have 12 months from the release to sign a contract to buy or build, or re-contribute the funds
•Both members of a couple can use FHSS separately, potentially releasing up to $100,000 combined

Frequently Asked Questions

Official Sources

Estimates only. Not financial or tax advice. Full disclaimer for your rights and our limitations of liability.

Rates and thresholds last updated for the 2024–25 financial year.

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