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The First Home Super Saver Scheme is one of those government initiatives that genuinely deserves more attention than it gets. If you are saving for your first home and you have not looked into the FHSS scheme yet, it is worth understanding how it works and whether it could help you reach your deposit goal sooner.
What the First Home Super Saver Scheme actually is
The First Home Super Saver Scheme allows eligible Australians to make voluntary super contributions into their superannuation fund and then withdraw those contributions, plus associated earnings, to use as a home deposit. It is administered through the Australian Taxation Office, so when people refer to the First Home Super Saver Scheme ATO, they are talking about the same thing. The idea is that money saved inside super is taxed at a lower rate than money saved in a standard bank account, which means your deposit could grow more efficiently over time.
To be clear, Zella Money is a mortgage brokerage and not a financial adviser or tax professional. We cannot tell you whether the FHSS scheme is right for your personal circumstances, and nothing on this page should be taken as financial or tax advice. What we can do is help you understand how it fits into the broader picture of buying your first home, and connect you with the right professionals when the time comes.
FHSS eligibility and who it applies to
FHSS eligibility comes with a few conditions. You must be at least 18 years old, you must never have owned property in Australia before, and you must not have previously requested a FHSS determination from the ATO. There are also provisions related to First Home Super Saver Scheme financial hardship, which allow people who have previously owned property but have suffered financial hardship to potentially access the scheme. The ATO sets the criteria for this, and a registered tax agent or financial adviser can help you assess whether you qualify.
Both concessional contributions FHSS and non-concessional contributions FHSS can be made under the scheme. Concessional contributions include things like salary sacrifice arrangements, where your employer pays a portion of your pre-tax salary directly into your super. Non-concessional contributions are made from your after-tax income. The tax treatment differs between the two, which is another reason to speak with a qualified tax professional before making any decisions.
Salary sacrifice and voluntary contributions
One of the most common ways people use the scheme is through salary sacrifice for a first home deposit. By arranging with your employer to direct some of your pre-tax salary into super, you could reduce your taxable income while building your deposit at the same time. Voluntary super contributions for a first home work in a similar way, whether they are made through salary sacrifice or as personal contributions you claim a deduction for.
The FHSS maximum release amount is currently $50,000 per person across all years combined, with a cap of $15,000 in voluntary contributions per financial year counting toward that total. For couples buying together, this could mean up to $100,000 combined, which is a meaningful contribution toward a deposit depending on where you are buying.
Requesting your FHSS determination through myGov
When you are ready to buy, you will need to request a FHSS determination through myGov before you can access your funds. This is the formal step where the ATO calculates how much you are eligible to withdraw. It is important to understand that once you request a determination, there are timeframes involved. The FHSS 12 month contract deadline means that after requesting a release of your funds, you generally have 12 months to sign a contract to purchase or construct a home. If you do not, there are options available, but they come with conditions.
The FHSS withdrawal tax is another thing to be aware of. When you withdraw your contributions and associated earnings, the amount is included in your assessable income for that year, but you receive a 30 per cent tax offset. The FHSS associated earnings rate is a rate set by the ATO that is used to calculate the notional earnings on your contributions, rather than the actual earnings your fund achieved. This distinction matters when you are trying to estimate what you will receive.
How Zella Money fits into this
At Zella Money, we work with first home buyers every day who are piecing together their deposit strategy. The FHSS scheme is one piece of that puzzle, and understanding how it interacts with your borrowing position is something we genuinely enjoy talking through. Once you have a clearer picture of your deposit, we can help you understand your home loan options, including low deposit loan structures and government schemes like the Home Guarantee Scheme that might apply to your situation.
We are not here to sell you a product. We are here to make sure you walk into this process feeling informed and supported, not overwhelmed. If you are thinking about using the First Home Super Saver Scheme as part of your path to property ownership, talking to a financial adviser or registered tax agent about the FHSS scheme details is a sensible first step. Then, when you are ready to talk mortgages, Zella Money is here.
Getting a home loan can feel overwhelming. It doesn't have to be. At Zella Money, we've built a process that keeps you informed, supported, and confident at every step. Here's how we work together.
Let's Have a Chat: Everything starts with a conversation. We take the time to understand where you are right now, where you want to go, and what matters most to you. No pressure, no jargon. Just an honest discussion about your situation and your goals.
We Dig Into the Detail: Once we know what you're working towards, we take a closer look at your finances. Income, expenses, savings, existing debts. We look at the full picture so we can give you advice that's actually relevant to your life, not just a generic answer.
We Research the Market: With a clear picture of your situation, we search across a wide panel of lenders to find options that genuinely suit you. We're not tied to one bank or one product. Our job is to find the right fit, not the easiest one.
We Walk You Through Your Options: We present a shortlist of suitable loan options and explain each one in plain language. Rates, fees, features, flexibility. We cover it all so you can make a decision you feel good about. No hard sell, ever.
We Handle the Application: Once you've chosen the loan that works for you, we take care of the paperwork. We prepare and lodge your application, liaise with the lender, and keep things moving. You don't need to chase anyone.
We Keep You in the Loop: From application through to approval, we stay in regular contact. You'll always know where things stand. If the lender needs anything extra, we handle it quickly and let you know what's happening and why.
Settlement and Beyond: Approved and settled? We're still here. We check in after settlement to make sure everything's running smoothly, and we stay available as your circumstances change. One loan is just the beginning.
Ready to talk to the team? We're excited to meet you! Shoot though an enquiry and we'll get back to you ASAP!
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We used Jaclyn the Senior Finance Broker to buy our first home and she was amazing! She is so knowledgeable, made us feel valued and turned our dream into a reality. Can not recommend her enough! Shout out to Sal as well the Settlements Manager who helped make settlement nice and simple.
Chris Fallon
I cannot recommend Zella highly enough! Charlotte and the wider Zella team were with us every step of the way! They truly had our backs in securing the best home loan for our family. Prompt, informative and easy to deal with! Thank you so much for all your hard work!! xx
Olivia Jolliffe
I had a great experience with Zella from start to finish. The team was friendly and made our refinance super easy. Highly recommend!
Casey Sharrock
Huge thanks to Tara and her team! Highly recommend !
Maddie B
Bought my first home through Zella and so so glad I did! Georgia was extremely helpful from the start and patient with answering all of my stupid questions. Thank you again for everything!
Christine Untario
I really appreciated working with the team. They were really efficient, no question went unanswered and they were lovely to work with. I felt in good hands!
Jane Eldershaw
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For most standard lending appointments, no. We're paid by the lender once your loan settles. In rare cases where applications are highly complex, a fee may apply, but we'll always discuss and disclose this with you upfront.
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Absolutely. We assist clients across Australia and have a thorough understanding of different state and territory regulations, grants and incentives.
We keep communication clear and simple. Your broker will be available via email and phone, and we manage documentation securely through our electronic portal. Your initial meeting can be held over the phone or by video call, depending on your preference. We're always just a message away if you need support.
To get started, we'll need documents such as identification, proof of income (like payslips or tax returns), details of your assets and liabilities, and statements for any existing loans or credit facilities. Your broker will give you a personalised checklist so you always know what's needed.
Your borrowing capacity depends on factors like your income, expenses, existing debts, credit history and the policies of individual lenders. We'll work with you to assess your position and give you a clear understanding of what's achievable.
Yes. Our brokers stay across all available incentives, including first home buyer grants, stamp duty concessions and guarantee schemes. If you're eligible, we'll help you understand how to apply and make the most of these opportunities.
Absolutely. We specialise in guiding first-home buyers through the process with tailored advice, clear communication and plenty of support along the way.
Banks offer their own products. We offer you options. As your broker, we take the time to understand your goals and financial circumstances before searching across a broad panel of lenders to find solutions that genuinely suit you. We also stay across the latest policies, grants and niche lender options that could make a real difference to your outcome.
We conduct a credit check early in the process to help us best assist you. Your score is safe with us. If you have any concerns about your credit history, please speak with your broker — we're here to support you.
Pre-approvals generally last between three and six months, depending on the lender. We'll guide you through the timeline and help you refresh your approval if your property search takes a little longer than expected.
Once your loan is formally approved, we'll guide you through the settlement process. We work closely with your solicitor or conveyancer to ensure all requirements are met and everything runs smoothly right through to settlement day.
Definitely. We understand the nuances of self-employed income and have extensive experience presenting applications for business owners in a way that resonates with lenders.
No. In addition to home loans, we also assist with commercial lending, investment loans, refinancing and asset finance. Whatever your finance goals, we're ready to support you.
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