FHSS Calculator (First Home Super Saver)
Calculate how much you can save for your first home using the FHSS scheme. See your potential tax savings and compare with keeping your money in a regular bank account.
Based on 2025-26 tax rates and current FHSS rules. Assumes concessional contributions.
Maximum $15,000 per person per year
85% released, taxed at 15% instead of marginal rate
Your income in the year you withdraw FHSS funds
Enter your contribution details to see FHSS benefits
How the FHSS Scheme Works
The First Home Super Saver (FHSS) scheme lets you save for your first home inside your superannuation fund. The key benefits are:
- Lower tax on contributions: Salary sacrifice or personal deductible contributions are taxed at just 15%, instead of your marginal rate (up to 47%)
- 30% tax offset on withdrawal: When you withdraw, you pay your marginal rate minus 30%
- Deemed earnings: The ATO adds "associated earnings" to your contributions based on the shortfall interest charge rate
FHSS Contribution Limits
| Limit Type | Amount | Notes |
|---|---|---|
| Per year | $15,000 | Per person, from voluntary contributions only |
| Lifetime | $50,000 | Per person, contributions made since 1 July 2017 |
| Couple combined | $100,000 | Each partner can access their own $50,000 limit |
The 85% Rule Explained
When you make a concessional contribution (salary sacrifice or personal deductible), 15% is withheld as contributions tax by your super fund. So when you withdraw under FHSS, you receive 85% of your contributions plus 85% of associated earnings.
Example: If you contribute $15,000, your super fund receives $12,750 after the 15% contributions tax ($2,250). This $12,750 is what's available for FHSS release.
Tax on FHSS Withdrawal
Your FHSS withdrawal is taxed at your marginal rate minus a 30% tax offset. Here's what that means at different income levels:
| Taxable Income | Marginal Rate + Medicare | Less 30% Offset | Effective Withdrawal Tax |
|---|---|---|---|
| $0 – $18,200 | 2% | -30% | 0% |
| $18,201 – $45,000 | 18% | -30% | 0% |
| $45,001 – $135,000 | 32% | -30% | 2% |
| $135,001 – $190,000 | 39% | -30% | 9% |
| $190,001+ | 47% | -30% | 17% |
FHSS vs Regular Savings Example
Let's compare saving $15,000 per year for 3 years on a $90,000 salary:
| Method | FHSS Scheme | Bank Account |
|---|---|---|
| Gross savings per year | $15,000 | $15,000 |
| Tax on contributions | 15% ($2,250) | 32% ($4,800) |
| Net into savings | $12,750 | $10,200 |
| After 3 years + earnings | ~$41,500 | ~$32,400 |
| Tax on withdrawal | ~$830 (2%) | $0 |
| Net to your bank | ~$40,670 | ~$32,400 |
| You save with FHSS | ~$8,270 | |
Tip: The higher your income, the more you benefit from FHSS. Someone on $150,000 would save even more due to the larger gap between their marginal rate (39%) and the 15% contributions tax.
Eligibility Requirements
- You must be 18 or older to request a FHSS determination
- You must never have owned property in Australia (including investment property)
- You must never have previously requested a FHSS release
- You don't need to be an Australian citizen or tax resident
- You must intend to live in the property for at least 6 months within the first 12 months
Important Timeframes
- Request a FHSS determination from the ATO before requesting a release
- You have 12 months from requesting a release to sign a contract
- Notify the ATO within 28 days of signing the contract
- Funds typically take 15-20 business days to reach your bank account
Combine FHSS with State First Home Buyer Benefits
FHSS works alongside state government first home buyer schemes. Use our stamp duty calculators to see your total savings:
- NSW First Home Buyer Stamp Duty – Full exemption up to $800,000
- VIC First Home Buyer Stamp Duty – Full exemption up to $600,000
- QLD First Home Buyer Stamp Duty – Concessions for homes up to $800,000
- WA First Home Buyer Stamp Duty – Full exemption up to $500,000
- TAS First Home Buyer Stamp Duty – Full exemption up to $750,000
- ACT First Home Buyer Stamp Duty – Full exemption up to $1,020,000
FAQ
How much can I withdraw under FHSS?
You can withdraw up to $50,000 in eligible contributions per person (lifetime limit), plus associated earnings. The maximum you can contribute each year is $15,000. For couples buying together, the combined limit is $100,000.
Why do I only get 85% of my contributions?
When you make concessional (before-tax) contributions to super, 15% is withheld as contributions tax. The remaining 85% is what's available for release under FHSS. This is still beneficial because 15% tax is much lower than most people's marginal tax rate.
How is the FHSS withdrawal taxed?
FHSS withdrawals are taxed at your marginal tax rate minus a 30% tax offset. For example, if your marginal rate is 32% plus 2% Medicare levy (34% total), you'd pay 34% - 30% = 4% tax on the withdrawal. If your effective rate is below 30%, you may pay no tax on withdrawal.
Can couples both use FHSS?
Yes, if you're buying a home with your partner, you can each use your own FHSS entitlements. Each person can contribute up to $15,000 per year and $50,000 lifetime, meaning a couple could potentially access up to $100,000 (before tax) for their deposit.
Is FHSS worth it?
For most first home buyers, yes. The main benefits are: (1) Your contributions are taxed at 15% instead of your marginal rate, (2) You get a 30% tax offset on withdrawal, and (3) Your savings earn a deemed return. The higher your income, the greater the tax savings.
What are 'associated earnings' in FHSS?
Associated earnings are a deemed amount the ATO calculates based on the shortfall interest charge (SIC) rate, which is the 90-day bank bill rate plus 3%. As of late 2025, this rate is approximately 6.61%. This is added to your contributions when calculating your release amount.
Tax Accuracy & Sources
This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.
Last reviewed: February 2026. Based on current FHSS rules and 2025-26 tax rates.