First Home Super Saver Scheme – How does it work?

From 1 July 2022, if you're a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home.

Under the scheme, voluntary concessional and non concessional contributions made on or after 1 July 2017 may be released from super to help you purchase your first home.

Currently, you can release up to $15,000 of voluntary contributions from any one financial year, up to a total of $30,000 in contributions across all financial years, plus earnings on those voluntary contributions. Under the new rules, from 1 July 2022, you will be able to release up to $15,000 of voluntary contributions from any one financial year, up to a total of $50,000 contributions across all financial years, plus earnings.

To be eligible to participate in the FHSS scheme an individual must:

  • Be 18 or over

  • Have never owned property in Australia

  • Not previously requested a release of super money under the FHSS scheme


The FHSS scheme can only be used to buy a residential home in Australia however it cannot be used to buy a mobile home. If vacant land is purchased, a contract to build a home on it must be signed within 12 months although a 12-month automatic extension will be granted. You must also intend to live in the home, the scheme can't be used to buy a residential investment property.

If you have any questions, please contact us today at or give us a call on 08 8418 2111.

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