First Home Super Saver Scheme (FHSSS)

How It Helps First‑Home Buyers in 2026

The First Home Super Saver Scheme (FHSSS) is a federal initiative designed to help Australians save for their first home faster and more tax‑effectively by using the superannuation system. Introduced in 2017, the program remains an important part of the national first‑home buyer toolkit in 2026.

What the FHSSS Allows You to Do

The scheme lets eligible first‑home buyers make voluntary contributions into their super fund — and later withdraw them for a home deposit.

Under current settings, buyers can withdraw:

• Up to $50,000 per person, or

• Up to $100,000 total for a couple

Withdrawals include:

• 100% of non‑concessional (post‑tax) contributions, and

• 85% of concessional (pre‑tax) contributions

Because super is taxed at a lower rate compared to personal income, savings can grow faster than saving through a standard bank account.

Who Can Use the FHSSS

To be eligible, you must:

• Be 18 or older to access withdrawn funds

• Not have owned property in Australia before

• Intend to live in the home for at least 6 months within the first year of purchase

  
  

You can begin contributing to super earlier, but withdrawals are only allowed once you meet the age requirement and are ready to buy.

How FHSSS Works in Practice

1. Make voluntary super contributions (salary sacrifice or personal contributions).

2. Your savings grow inside super at concessional tax rates.

3. When ready to buy, apply to the ATO to release funds.

4. Use the released amount toward your first‑home deposit.

The scheme is particularly attractive for buyers with:

• Strong incomes

• Long savings timelines

• High tax brackets (greater tax advantage)

Why FHSSS Matters in 2026

With deposit requirements rising across Australia, FHSSS helps buyers:

• Reduce tax on saved income

• Build deposits more quickly

• Combine FHSSS savings with other major schemes like the Home Guarantee Scheme (HGS) or Help to Buy, maximising total assistance available.