Saving for a first home?
The First Home Super Saver scheme lets you save for a deposit inside super and take it back out, which for most people is a lower tax rate than saving outside it.
$50,000
the total an individual can release under the scheme, at up to $15,000 from any one financial year
What this is
The First Home Super Saver scheme lets you make voluntary contributions to super, then apply to release them for a first home deposit. The attraction is the tax treatment inside super rather than the amount. You can release up to 50,000 dollars in total, counting a maximum of 15,000 dollars from any one financial year, and the sequence is strict: the determination has to be requested before you sign a contract.
Does it apply to you?
- People who have not previously owned property in Australia
- People who intend to live in the home, not investors
- Anyone still a year or more away from buying, since the benefit needs time to build
How to do it
- Check you are eligible on the ATO page: it is aimed at people who have not owned property in Australia.
- Make voluntary contributions to your super. Employer contributions do not count.
- Apply to the ATO for a determination BEFORE you sign a contract. The order matters and getting it wrong can cost you the release.
- The amount released is not the same as the amount you put in: the rules release 100% of contributions you did not claim a deduction for, and 85% of those you did.
Where people lose the money
Signing a contract before requesting the determination.
Requesting it first is a condition. Getting the order wrong can cost you the release entirely.
Expecting to get out exactly what you put in.
Contributions you did not claim a deduction for release at 100 per cent; those you did release at 85 per cent, plus associated earnings.
Counting employer contributions.
Only voluntary contributions count. Compulsory employer contributions do not.
Questions
How much can I release?
Up to 50,000 dollars in total across all years, counting no more than 15,000 dollars of eligible contributions from any single financial year.
How long does the release take?
Allow several weeks between requesting the release and the money arriving. Build that into your purchase timeline rather than discovering it at settlement.
Is this financial advice?
No. It is what the ATO publishes about the scheme's rules. Whether it suits your circumstances is a question for a licensed adviser.
Where these numbers come from
- ATO, First home super saver scheme · read 2026-09-22
Last gone over 2026-09-22. Figures change; the link above is always the current one.
Published by Income Lab, Melbourne. Responsible for this page: Jarred Krowitz.