Super and housing

First Home Super Saver sheme

What is it?

The First Home Super Saver (FHSS) scheme was introduced by the Australian Government in the 2017-2018 Federal Budget. The scheme allows you to save money for a first home inside your superannuation fund. This will help first home buyers save faster with the concessional tax treatment within super.

How does it work?

From 1 July 2017, you were able to make voluntary concessional (before-tax) and non-concessional (after-tax) contributions into your super fund to save for your first home. From 1 July 2018, you can apply to release these contributions, along with associated earnings, to help you purchase your first home. You must be 18 years or over to apply for the release of these amounts. You will be able to apply for the release via the ATO website.

More information on the FHSS scheme is available here .