Section 1 of 2
First Home Super Saver Scheme
Use super to save for your first home — with tax benefits
FHSS Contributions
Make voluntary concessional (pre-tax) contributions to your super, then withdraw them later to buy your first home. Contributions are taxed at 15% instead of your marginal rate.
Example
Earn $85,000 (30% bracket). Salary sacrifice $15,000 into super — save 15% instead of 30% = $2,250 tax saving. Withdraw it later for your deposit.
FHSS Withdrawal
Apply to the ATO to release your FHSS contributions (plus deemed earnings). The released amount is taxed at your marginal rate minus a 30% offset.
Example
Contributed $40,000 over 3 years. Apply for release, sign a contract within 12 months, and use it toward your deposit.
Section 2 of 2
Salary Sacrifice into Super
Pay less tax by putting pre-tax income into super
How Salary Sacrifice Works
Your employer redirects part of your pre-tax salary into super. The contribution is taxed at 15% instead of your marginal rate — the higher your bracket, the bigger the saving.
Example
Earn $140,000 (37% bracket). Sacrifice $10,000 — pay 15% super tax ($1,500) instead of $3,700 in income tax. Save $2,200.
Carry-Forward Unused Cap
If your super balance is under $500,000, you can use unused concessional cap amounts from the previous 5 years to make a larger contribution this year.
Example
Only used $20,000 of your $30,000 cap last year? Carry forward $10,000 — contribute up to $40,000 this year.
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