First home super saver scheme
FHSS Scheme
The FHSS scheme allows you to save money for your first home in your super fund. You can apply to have a maximum of $15,000 of your voluntary contributions from any one financial year included in your eligible contributions to be released under the FHSS scheme. You are limited to a total of $50,000 contributions across all years.
Eligibility and conditions
To use this scheme, you must satisfy all the following conditions:
- You’re 18 years old or older when requesting an FHSS determination or a release of money under the FHSS scheme. However, you can make eligible contributions before you are 18 years of age.
- You’re a first home buyer, having never owned property in Australia – this includes an investment property, vacant land, commercial property, a lease of land in Australia, or a company title interest in land in Australia (unless we determine you have suffered a financial hardship).
- You intend to occupy the property you buy as soon as practicable and for at least 6 months within the first 12 months you own it after it’s practical to move in.
- You have not previously made an FHSS release request.
You don’t need to be an Australian citizen or Australian resident for tax purposes to use the FHSS scheme.
Eligibility is assessed on an individual basis. This means that couples, siblings or friends can each access their own eligible FHSS contributions to purchase the same property. If any of you have previously owned a home, it will not stop anyone else who is eligible from applying.