Insight

First Home Super Saver Scheme: your path to $50k+ in savings

June 2, 2026
Newly completed Australian home representing a first home purchase

The First Home Super Saver (FHSS) Scheme is one of the more effective ways for Australians to build a first-home deposit — using the tax advantages of superannuation to save faster.

What the scheme is

The FHSS Scheme, introduced by the Australian Government, lets you make voluntary contributions into your super fund and later withdraw them (plus associated earnings) to buy your first home. Because super is taxed concessionally, your savings can grow faster than in an ordinary account.

How much you can save

You can contribute up to A$15,000 a year, to a cumulative cap of A$50,000 in voluntary contributions per person — and withdraw up to A$50,000 (A$100,000 for a couple), plus deemed earnings, toward your first home.

Who is eligible

  • At least 18 years old.
  • Have never owned property in Australia.
  • Intend to live in the home you buy.

The steps

  1. Check eligibility — confirm you meet the requirements.
  2. Make contributions — start voluntary contributions to your super.
  3. Apply to withdraw — request an FHSS determination from the ATO before you sign a contract, to avoid disqualification.

Risks and considerations

Contributions are invested in your super fund, so returns can move with markets, and there are rules to follow to avoid penalties. This is general information, not advice — a licensed professional can help you weigh it against your broader plan.

Understanding schemes like the FHSS is part of building toward property ownership — and, eventually, property investment.

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