Last updated: April 2026
First Home Super Saver Scheme (FHSS) Calculator 2026
The First Home Super Saver Scheme lets you save up to $50,000 inside your superannuation for a first home deposit, with significant tax advantages. By salary sacrificing into super, your contributions are taxed at 15% instead of your marginal rate, and 85% of concessional contributions can be released to put towards your home purchase. Our calculator below shows exactly how much you could release and save.
How the FHSS Works
The FHSS allows you to make voluntary contributions to your super fund and later withdraw them (plus deemed earnings) to help purchase your first home. There are two types of eligible contributions:
Concessional Contributions
Salary sacrifice or tax-deductible contributions. Taxed at 15% entering super (vs your marginal rate). 85% can be released under FHSS.
Non-Concessional Contributions
After-tax voluntary contributions. Already taxed, so 100% can be released. No additional tax benefit, but the deemed earnings add value.
FHSS Contribution Limits
- Maximum $15,000 per financial year (combined concessional + non-concessional)
- Maximum $50,000 total lifetime cap per person
- Contributions must be voluntary (employer SG doesn't count)
- Both members of a couple can each contribute up to $50,000 ($100,000 total)
- You can contribute over multiple financial years (up to the $15,000/year cap)
The FHSS Release Process
Request an FHSS determination
Apply to the ATO to find out your maximum FHSS releasable amount. You must do this BEFORE signing a contract to purchase.
Request a release
Once you know your determination amount, request the ATO to release the funds from your super fund.
ATO sends to your super fund
The ATO instructs your super fund to pay the release amount. This typically takes 15-25 business days.
Sign your contract
You must sign a contract to buy or build within 12 months of receiving your FHSS release. If you don't, a 20% penalty tax applies.
Tax on FHSS Release
When you receive your FHSS release, the assessable amount (concessional component + deemed earnings) is added to your taxable income. However, you receive a 30% non-refundable tax offset, which means the effective tax rate on the release is your marginal rate minus 30%. For most first home buyers earning between $45,001 and $135,000, this means the FHSS amount is effectively taxed at 0% (30% marginal rate minus 30% offset).
FHSS Eligibility
- Must be at least 18 years old
- Must never have owned residential property in Australia (including through a trust or company)
- Must not have previously requested an FHSS release
- Must request an FHSS determination before signing a contract
- Must sign a contract within 12 months of receiving the release (or apply for an extension)
- Must intend to live in the property as your principal residence for at least 6 months in the first 12 months of ownership
Stacking FHSS with Other Schemes
The FHSS can be used alongside the First Home Guarantee (FHBG), state First Home Owner Grants, and stamp duty concessions. It can also be used with Help to Buy. The FHSS release goes towards your deposit, and the other schemes provide additional benefits on top. Use our wizard to see exactly which combination works for your situation.
See which schemes you qualify for
Answer a few questions and get a personalised strategy showing every scheme you can stack, how much you could save, and what to do first.
Start the free calculator2 minutes. No sign-up required.
Frequently Asked Questions
How much can I save with the FHSS?
The tax benefit depends on your marginal tax rate. Someone earning $90,000 who salary sacrifices $15,000/year for 3 years ($45,000 total) could save approximately $6,750 in tax compared to saving outside super.
Can both members of a couple use the FHSS?
Yes. Each person can contribute and release up to $50,000 independently, so a couple could access up to $100,000 in FHSS funds.
What happens if I don't buy a home within 12 months?
You can apply for a 12-month extension. If you still don't purchase, you can either re-contribute the amount to super or pay a 20% flat tax on the assessable portion.
Do employer super guarantee contributions count?
No. Only voluntary contributions count towards the FHSS. Your employer's compulsory 12.5% super guarantee is not eligible.
Source: Australian Taxation Office
Disclaimer: This information is general in nature and does not constitute financial, legal, or tax advice. Calculations are estimates only and may not reflect your exact circumstances. Eligibility criteria and dollar amounts may change without notice. Always verify with the relevant government authority, your mortgage broker, or a licensed financial adviser before making decisions.