First Home Super Saver Calculator

How the First Home Super Saver scheme works

The First Home Super Saver (FHSS) scheme lets you save for your first home inside super, where the money is taxed more lightly. You make voluntary contributions on top of your employer's super, then ask the ATO to release them, plus deemed earnings, when you're ready to buy.

Limits: up to $15,000 of voluntary contributions count each financial year, and $50,000 in total.
Before-tax contributions (salary sacrifice, or personal contributions you claim a deduction for): 85% can be released, because the fund pays 15% contributions tax.
After-tax contributions: 100% can be released.
Deemed earnings: the ATO adds earnings at the shortfall interest charge rate, whatever your fund actually earned. The rate is 7.51% a year for October to December 2026, and it changes every quarter.

Tax when the money comes out

The before-tax part you release (the 85%) and all the deemed earnings are added to your taxable income for that year. You pay tax at your marginal rate, but you get a 30% tax offset. So someone on the 30% rate pays about 2% (30% plus 2% Medicare, less the 30% offset). Your fund or the ATO withholds an estimate, and your tax return settles the final figure. After-tax contributions come back tax free.

Why it can beat a savings account

With salary sacrifice, $15,000 of pay becomes $12,750 in super after 15% contributions tax. Taken as pay, the same $15,000 would leave you only about $10,200 after tax on a $85,000 income. On top of that, deemed earnings are often higher than a savings account, and savings interest is taxed at your full marginal rate. The calculator above compares both paths with your numbers.

Rules to check before you start

You must be 18 or over when you ask for a determination, and never have owned property in Australia (including land or an investment property).
You must ask for an FHSS determination before you sign a contract, or within 90 days after signing.
After the release, you have 12 months to sign a contract (the ATO can extend this by another 12 months), and you must intend to live in the home for at least 6 of the first 12 months.
Salary sacrifice counts toward your $32,500 concessional cap, together with your employer's super.

Couples can each use the scheme for the same home, so together they can release up to $100,000 of contributions plus earnings. Pair it with the 5% Deposit Scheme and check the stamp duty on your home. To see your cap room, try the super contributions calculator.

Sources: ATO – First home super saver scheme, ATO – Shortfall interest charge rates.

Frequently asked questions

How much can I withdraw under the FHSS?

Up to $50,000 of eligible voluntary contributions (no more than $15,000 from any one financial year), counted at 85% for before-tax and 100% for after-tax contributions, plus deemed earnings.

Do my employer's compulsory super contributions count?

No. Only voluntary contributions count, such as salary sacrifice, personal contributions you claim a deduction for, and after-tax contributions.

Can my partner and I both use the FHSS?

Yes. Eligibility is worked out for each person, so a couple can each release their own FHSS savings for the same home.

What if I don't end up buying a home?

You can put the amount back into super as a non-concessional contribution, or pay FHSS tax of 20% of the assessable amount you were paid. You need to tell the ATO which one you choose.

Official sources used for this calculator include: Moneysmart – Home loans, APRA – Australian Prudential Regulation Authority, Housing Australia – Home Guarantee Scheme. See how we calculate.

Reviewed by the ClearCalc team. Last reviewed October 2026. This calculator gives an estimate for general information only. Check important figures with the relevant government agency or a licensed professional.

First Home Super Saver (FHSS) Calculator

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