Australia First Home Super Saver: limits and release
This guide explains eligible contribution limits, release amounts and the ATO determination and release process for Australia’s First Home Super Saver scheme.
On this page
- Eligible contribution limits
- A$15,000 per financial year and A$50,000 across all yearsATO FHSS release amounts
Eligible contribution limits
The ATO publishes a limit of A$15,000 of eligible contributions made in a single financial year starting on or after 1 July 2017, and A$50,000 of eligible contributions across all years from that date. These limits concern contributions counted under the FHSS scheme. ATO FHSS release amounts (opens in a new tab).
Voluntary contributions count in full when assessing use of the annual and overall limits, whether concessional or non-concessional. The contribution limit and the amount available for release are different measures. ATO FHSS release amounts (opens in a new tab).
Release amounts differ from contributions
The maximum release amount includes 100% of eligible non-concessional contributions, 85% of eligible concessional contributions and deemed associated earnings. Those earnings are a notional amount calculated at the shortfall interest charge rate. ATO FHSS release amounts (opens in a new tab).
Earlier eligible contributions count before later ones. Within a financial year they count in the order made; where eligible concessional and non-concessional contributions are simultaneous, the non-concessional contributions count first. ATO FHSS release amounts (opens in a new tab).
Determination before release
An FHSS determination is requested through ATO online services via myGov, under Super, Manage, then First home saver. The ATO provides the maximum release amount after the application. ATO FHSS determination (opens in a new tab).
The determination must be requested before ownership of real property transfers to the applicant. The ATO distinguishes signing a contract from transfer of ownership, which generally follows settlement. ATO FHSS release amounts (opens in a new tab).
Requesting the release
A release request requires an existing FHSS determination. The applicant selects that determination and provides the requested amount, the super fund or funds for release, and the destination bank account. The request can be for an amount up to the determination’s maximum. ATO FHSS release request (opens in a new tab).
The ATO allows only one FHSS release request. A request may be amendable or cancellable before payment processing, but once the ATO begins processing the FHSS payment it cannot be amended or cancelled. ATO FHSS release request (opens in a new tab).
Records and scope
The ATO determination process uses contribution dates received by the super fund, rather than the date an employer or contributor sent the payment. Pre-filled information requires reconciliation with contribution and deduction records. ATO FHSS determination (opens in a new tab).
This general explanation does not determine eligibility, a release amount, contract deadlines, tax or entitlement to another housing scheme. The super contribution calculator models contribution scenarios and does not calculate an FHSS release.