First home super saver scheme

Use your super account to save a deposit for your first home.

For first home buyers

Build your super and use it to take that important first step onto the property ladder.

What is it?

The First home super saver scheme is a government initiative designed to help improve housing affordability for first home buyers. Because of the special tax treatment super gets, you can use your super account to save for your first home deposit faster.

How does it work?

You can save your deposit by making before-tax or after-tax contributions to super. You can add up to $15,000 each year, or $30,000 in total, to your super account.

When you're ready to buy, you can withdraw these contributions, plus any earnings on them.

Your contribution amounts need to be within your contribution caps.

Are you eligible?

To be eligible, you need to be a first home buyer who:

  • lives in the premises you're buying or intends to as soon as practicable and
  • intends to live in the property for at least six months within the first 12 months you own it (after it's practical to move in).

Ready to buy?

Well done! You've saved hard and you're ready to buy your first place.

To withdraw the money from your super account, you'll need to apply to the ATO.

For details, visit the ATO website.

Want to know more?

Read the First home super saver scheme fact sheet.

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