AU Australia property term
First Home Super Saver Scheme (FHSS)
Australia-wide
Plain-English definition
A federal scheme allowing eligible people to release certain voluntary super contributions and associated earnings to help buy a first home.
Why this matters to a foreign buyer
FHSS is not a cash grant and has contribution, release, timing and owner-occupancy rules. It does not remove foreign-investment approval, state duty or lender requirements.
The First Home Super Saver Scheme is an Australian Government arrangement that can allow an eligible first-home buyer to release certain voluntary superannuation contributions and associated earnings for a qualifying home purchase.
It uses eligible voluntary contributions
The scheme does not make the buyer’s entire super balance available. Contribution types, annual caps and the overall releasable amount are governed by current ATO rules.
Sequence and timing matter
Buyers should obtain the required FHSS determination and follow the release process at the correct stage. Signing a contract before completing required steps can create avoidable problems or tax consequences.
It is separate from WA assistance
FHSS is a federal superannuation measure. It is different from WA transfer-duty concessions, the First Home Owner Grant, Keystart and shared-equity programs, although an eligible buyer may need to consider several programs together.
Frequently asked questions
Can a buyer withdraw their entire super balance under FHSS?
No. Only eligible voluntary contributions and associated amounts, within current scheme limits, may be released.
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