Further Savings With “First Home Super Saver Scheme” (FHSS)

A big hurdle for First Home Buyers that has prevented them from entering the market has been helped by the Federal Governments introduction on the 1st of July 2017, of the First Home Super Scheme (FHSS)

The FHSS scheme allows first home buyers to make additional voluntary contributions to their super, through pre-tax salary sacrificing or post-tax contributions, up to $15,000 per year, capped at $30,000. These are additional contributions above the compulsory 9.5% employer superannuation guarantee.

Contributions must be in addition to the Superannuation Guarantee contributions made by your employer which continue to be preserved until retirement age.

The scheme can only apply to the purchase of a property you are currently living in or intend to live in as soon as practicable and you must live in the property for a minimum of 6 months of the first 12 months you own it, from the day you move in.

Super Saver scheme applies to all Australian who are seeking to purchase their First Home.

Voluntary contributions are taxed at a lower rate compared to income, allowing first-home buyers keep more of their money and save faster. Applicants are also entitled to access any earnings on their extra contributions.

TIP FHSS applies to each individual, allowing both spouses or partners to make equal contributions and expedite the saving of a deposit.

First Home Buyers can use this scheme if both of the following apply:

  • You either live in the premises you are buying or intend to as soon as practicable; and
  • You intend to live in the property for at least six months within the first 12 months you own it, after it is practical to move in.

If you plan to use the scheme, there are several important factors to consider:

  • You must apply for and receive a FHSS determination from the Tax Office before signing a contract on your first home or making the application to release your FHSS savings;
  • Once a valid request has been made, you can sign a contract to either purchase or build your home;
  • You can only apply to release your FHSS savings once; and
  • Once you make a valid request for release of your FHSS savings, you have 12 months to sign a contract or build a new home.


The information provided is a simple guide to give you some background. For detailed accurate information, on the First Home Super Save Scheme follow this link, directly to the ATO website.  https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/

  • All
  • Asset Loans
  • Car Loans
  • Commercial Loans
  • First Home Buyers Loan
  • Government
  • Home Loans
  • Investment Loans
  • Pre-Approvals
  • Refinance
  • Uncategorized

Types of Home Loans: Which One Is Right for Me?

Types of Home Loans - Which One Is Right for Me? First home buyers have a wide range of choices to make when choosing your loan.  One of the choices relates to over what time your loan will be repaid. This is influenced by a loan being principal and interest or interest only. Another choice

What Do The 2032 Olympic Games Mean For Brisbane’s Property Market?

What Do The 2032 Olympic Games Mean For Brisbane's Property Market? On July 21st, Brisbane was selected as the host for the 2032 Olympic games. Returning to Australia 32 years after it’s last appearance in Sydney in 2000, the Olympic and Paralympic games will be bringing a lot of people and revenue, sure to boost

First Home Super Saver Scheme

First Home Super Saver Scheme Budgeting can be hard for some, and the notion of saving a few thousand dollars for your first home can seem impossible. Luckily, there is the First Home Super Saver Scheme! If you are looking to buy your first home and could use a little help getting started on saving

Why Choose Brisbane Home Loans

You're In Good Hands

Brisbane Home Loans is all about good old fashioned personal service without exception.

We Find The Right Deal For You

We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.

Ongoing Comittment

We continue to work for you after the deal is finished, ensuring that we asess any new offers that become available which may improve your current deal.

One Stop Lending

We give our clients access to Personal Loans, Home Loans, Investment Loans and Commercial Loans.  You always only deal with on person for all your lending services.

How We Work With Our Clients

We can meet clients in our office, in their home, their office or the local coffee shop. Our initial interview will helps us understand the clients needs in the short, medium and long term so that we can find the best possible lender for your loan.

The world of financing continues to be more and more complicated. Our Lenders have experience in finding the right product to meet the specific needs of each of our clients.  During this phase, we identify two to three options that may be suitable.

Our Lending Specialists will present to you a number of options available outlining  the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.

Our Lending Specialists work with our clients to have all documentsation signed, submitted to the lending institution and processed through to approval.

We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned.  During this review, the client is made aware of any new financing options in the market.

Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.

What Does A Mortgage Broker Do

Listen and Evaluate Your Needs
Calculate How Much You Can Borrow
Compare Options Available to You in The Market
Provide You Expert Advice
Do All The Leg Work
Obtain Pre-Approval For You
Create A Plan For You To Ensure Your Always Getting The Best Deal
Most Importantly We Provide This at No Cost To You


Request a call Back.

Would you like to speak to one of our financial advisers over the phone? Just submit your details and we’ll be in touch shortly. You can also email us if you would prefer.

    Immediate Response: