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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.

✅ Figures verified. FHSS limits — $15,000 of voluntary contributions a year and $50,000 in total, released with associated earnings and taxed at your marginal rate less a 30% offset; 15% contributions tax on concessional contributions and the 2026–27 $32,500 concessional cap — confirmed on ato.gov.au on 10 October 2026.
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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.

Not tax or legal advice. Estimate; the deemed earnings rate changes quarterly, contributions are assumed within the concessional cap, and the bank comparison assumes 4.5% interest. Not financial advice.
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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?.

Sources: ATO — First Home Super Saver scheme; ATO — Contributions caps. Checked 10 October 2026.

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

$95,000 salary, $15,000 a year salary-sacrificed for 3 years, 7.2% deemed earnings, $700,000 target, partner doing the same

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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Written by the Swift IT Sols editorial team · SWIFT SOLSRules sourced from the official authorities named on this page and last checked How we source and check calculators

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