Glossary · Australian property
First Home Super Saver Scheme (FHSS).
A federal scheme that lets first home buyers contribute extra to super (up to $50K total) at the concessional 15% tax rate, then withdraw it for a deposit.
FHSS lets first home buyers make voluntary super contributions (up to $15K/year, $50K total cap) taxed at the concessional 15% rate instead of marginal rate, then withdraw those contributions plus deemed earnings for a property deposit.
Net tax saving: contribution × (marginal rate - 15%) × 0.85 (post-15%-contributions tax). On a $50K contribution at 39% marginal rate, that's $50K × 24% × 0.85 = $10,200. At 47% marginal rate, $13,600. Plus deemed earnings while in super.
Eligibility: 18+, never owned property in Australia, voluntary contributions only (employer SG doesn't count), withdraw via ATO process (15-25 business days), use for PPOR purchase and occupy for 6+ months within 12 months.
Source
ATO administered scheme; Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (FHSS originating Act).
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