First Home Super Saver Calculator
First Home Super Saver: contributions, 15% contributions tax, deemed earnings, releasable amount, withdrawal tax after the 30% offset, net deposit versus saving the same salary after tax, and the deposit as a share of your target home.
| Contributions made | — |
|---|---|
| Contributions tax (15%) | — |
| Tax you would have paid taking it as salary | — |
| Associated earnings | — |
| Releasable amount (85% of concessional + earnings) | — |
| Withdrawal tax (marginal rate − 30% offset) | — |
| Net deposit from FHSS | — |
| Same money saved after tax in a bank account | — |
| FHSS advantage | — |
| Deposit as % of target (with partner) | — |
In short
The First Home Super Saver scheme lets first home buyers salary-sacrifice up to $15,000 a year ($50,000 in total per person) into super, taxed at 15% instead of their marginal rate, then release it with deemed earnings for a deposit, taxed at the marginal rate less a 30% offset. For someone on $95,000 three years of $15,000 contributions yields about $43,000 of deposit versus about $32,500 saving the same salary after tax; a couple can release up to $100,000 plus earnings.
Who this is for: Australian first home buyers building a deposit.
First Home Super Saver scheme
- How it works: salary sacrifice into super (taxed at 15% instead of your marginal rate), then release the contributions plus deemed earnings for a first-home deposit, taxed at your marginal rate less a 30% offset.
- Limits: $15,000 of voluntary contributions a year, $50,000 in total per person, so a couple can release up to $100,000 plus earnings. Employer contributions do not count.
- The gain: a 32% marginal-rate earner pays 15% going in and 2% coming out instead of 32% — roughly $4,500 more deposit per $15,000 contributed, plus deemed earnings above typical savings rates.
- Timing: request the determination from the ATO before you sign; release takes 15–25 business days; the money must be used within 12 months (extendable once).
- Stacks with: state first-home-buyer stamp duty concessions and grants, the Home Guarantee Scheme (5% deposit without LMI), and the Help to Buy shared-equity scheme.
See also: Superannuation Calculator 2026–27, Home Affordability Calculator — How Much House Can I Afford?.
Assumptions
- Contributions capped at $15,000 a year and $50,000 total; 15% contributions tax; associated earnings at the deemed rate compounded to release.
- Withdrawal tax = releasable × (marginal rate incl. Medicare − 30%).
- Bank comparison: after-tax salary saved at 4.5% taxed at the marginal rate.
Worked example
Contributions $45,000, less $6,750 contributions tax, plus about $5,780 of deemed earnings = $44,000 releasable. Taking the same $45,000 as salary would have cost about $14,400 of tax at 32%. Withdrawal tax is 2% (32% − 30% offset) = about $880, so the net deposit is about $43,150. The same money saved from after-tax pay in a 4.5% account would reach about $32,500 — FHSS delivers about $10,600 more (33%). With a partner releasing the same, that is about $86,300 — 12.3% of a $700,000 home.
Frequently asked questions
How much can I release under FHSS?
Up to $15,000 of voluntary contributions per financial year and $50,000 in total per person, plus associated earnings, less tax at your marginal rate minus a 30% offset.
Does employer super count toward FHSS?
No — only voluntary contributions: salary sacrifice, personal deductible and after-tax contributions made since 1 July 2017.
Is FHSS worth it?
For anyone in the 30% bracket or above, yes: each $15,000 contributed yields roughly $4,000–5,000 more deposit than saving from after-tax pay, with no downside if you later do not buy (the money stays in super).
Can both partners use it?
Yes — each first home buyer can release up to $50,000 plus earnings for the same property.
What if I do not end up buying?
The money stays in your super — there is no penalty beyond the normal preservation rules.
Can after-tax contributions be released?
Yes — non-concessional contributions are released without further tax; only concessional ones carry the 15% going in and marginal-less-30% coming out.
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