First Home Super Saver (FHSS)
Save for your deposit inside super, with potential tax benefits.
Save for your deposit inside super - and potentially pay less tax while you do it.
What it is
The First Home Super Saver Scheme lets eligible first-home buyers make voluntary contributions into super and later withdraw them (plus associated earnings) to put toward a home deposit - potentially saving on tax.
Why people use it
Because voluntary concessional contributions are generally taxed at a lower rate than your income, the FHSS can help some savers grow a deposit faster than a standard savings account.
How to use it
You make eligible voluntary contributions, apply to the ATO for a determination, then request a release when you're ready to buy. There are caps on how much you can contribute and withdraw.
Important
Contribution caps, release amounts and eligibility rules are set by the ATO and change over time. Speak with your accountant or financial adviser - this is general information only, not financial advice.
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