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Web brightersuper.com.au
Email info@brightersuper.com.au
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First home super saver (FHSS) scheme

The FHSS scheme was introduced to help first-time home buyers save for a deposit using their super fund.

How it works

  • Eligible individuals can contribute up to a maximum of $15,000 in any one financial year, up to a maximum of $50,000 across all years through salary sacrifice or personal contributions.
  • Concessional contributions (salary sacrifice or personal contributions claimed as a tax deduction) are subject to 15% contributions tax.
  • Any contributions made from 1 July 2017 and deemed earnings can be withdrawn and used as a deposit for a first home.
  • The funds withdrawn are taxed at the contributor’s marginal tax rate, less a 30% tax offset.
  • You can only access your super funds under the FHSS scheme once, even if the amount you originally withdrew is less than the maximum allowable limit.

Who can qualify

There are some restrictions to help ensure help is only available to people genuinely saving for a first home. To qualify, participants need to:

  • Be aged 18 years or older.
  • Have not previously owned a home, including vacant land or investment properties (some hardship exceptions apply).
  • Have not previously requested the release of contributions under the scheme.

What contributions are eligible?

To be eligible for the scheme, contributions need to be any of the following:

  • Salary sacrifice contributions (not including Superannuation Guarantee payments made by an employer).
  • Voluntary contributions from after-tax pay (non-concessional contributions).
  • Voluntary contributions from after-tax pay for which a tax deduction is claimed (concessional contributions).

Queensland local government employees: Standard member contributions of 6% paid by eligible Queensland local government employees are not eligible for the scheme.


How much can I contribute?

Contributions are limited to $15,000 in any one financial year, and $50,000 in total.

You can read more about the FHSS scheme on the Australian Tax Office (ATO) website.

Transfer your KiwiSaver

We’re one of only a few super funds in Australia that allow you to transfer your full balance over to an Australian fund.

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