How much you can access
Your FHSS maximum release amount includes:
- your FHSS releasable contributions
- the earnings associated with those contributions.
Your eligible non-concessional or concessional contributions made under the FHSS scheme are subject to the following limits:
- $15,000 of total contributions made in any single financial year starting on or after 1 July 2017
- $50,000 of total contributions made from 1 July 2017.
Your FHSS maximum release amount includes:
- 100% of your non-concessional contributions
- 85% of your concessional contributions
- the amount of earnings deemed to be associated with the above contributions. Associated earnings are a notional amount of earnings calculated at the shortfall interest charge rate.
To determine how much of the annual limit ($15,000) and overall yearly limit ($50,000) you have used, you need to assess all voluntary contributions in full, regardless of whether they are concessional or non-concessional.
Example: salary sacrifice and the annual $15,000 limit
In the 2023–24 financial year, Mary made a $25,000 salary sacrifice (concessional contributions). Because of the annual contribution limit, only $15,000 will count as eligible FHSS contributions. When Mary requests a release, only 85% of that $15,000 ($12,750) will count towards the calculation of the maximum releasable amount.
In this example, the remaining $10,000 salary sacrifice contributions from 2023–24 can't be counted towards her maximum releasable amount.
Example: FHSS maximum release amount
Jill makes monthly salary sacrifice contributions of $1,500 from July 2020 until October 2024 and receives an FHSS determination on 15 December 2024.
As there are limits on the eligible contributions that Jill can release from super using the FHSS scheme, not all these contributions will count towards Jill's FHSS maximum release amount.
The contributions that count towards Jill's FHSS maximum release amount are eligible concessional contributions of:
•$15,000 in each of 2020–21, 2021–22 and 2022–23, and
•$5,000 ($1,500 each month from July to September 2024 and $500 for October 2024) from 2024–25.
Jill's FHSS maximum release amount is calculated as the sum of:
•$42,500 concessional contributions (being 85% of the $50,000 eligible concessional contributions), and
•$5,190 associated earnings.
Jill's FHSS maximum release amount is $47,690.
End of exampleHow your voluntary contributions are ordered
When you make voluntary contributions into super, the order and type of the contributions can make a difference to the amount released under the FHSS scheme.
We apply the following ordering rules when calculating your FHSS maximum release amount:
First-in first-out rule
The First-in first-out rule applies. This means contributions you make in an earlier financial year are counted before contributions in a later financial year. Your contributions within a financial year are counted in the order you made them.
Example: ordering rules for contributions
Hasan contributes the following amounts to his super fund:
- salary sacrifice contributions of $1,000 on the 15th of each month from January 2023
- non-concessional contributions of $5,000 (for which he does not claim a deduction) on 30 June 2023 and 30 June 2024.
He applies for an FHSS determination on 15 July 2025.
Hasan's eligible concessional and non-concessional contributions for 2022–23, 2023–24 and 2024–25 are illustrated in Table 1.
|
Eligible contributions |
2022–23 |
2023–24 |
2024–25 |
|---|---|---|---|
|
Non-concessional contributions |
$5,000 |
$5,000 |
Nil |
|
Concessional contributions |
$6,000 |
$12,000 |
$12,000 |
Noting the limits of $50,000 in total and $15,000 for each financial year, Hasan's eligible contributions that can be released are illustrated in Table 2.
|
Eligible contributions |
2022–23 |
2023–24 |
2024–25 |
|---|---|---|---|
|
Non-concessional contributions |
$5,000 |
$3,000 |
Nil |
|
Concessional contributions |
$6,000 |
$12,000 |
$12,000 |
As the eligible concessional contributions of $12,000 in the 2023–24 financial year are received earlier than the eligible non-concessional contributions, we apply the eligible concessional contributions first. Therefore, only $3,000 in eligible non-concessional contributions is counted in the 2023–24 financial year.
The remaining $2,000 of Hasan's eligible non-concessional contribution in 2023–24 is not counted because the $15,000 annual limit has been reached.
If the eligible contributions are received at the same time, the simultaneous contribution rule means that we apply the eligible non-concessional contributions first instead.
End of exampleSimultaneous contributions
The simultaneous contributions rule means that if you make both an eligible concessional contribution and an eligible non-concessional contribution at the same time (such as in the same payroll process), your non-concessional contributions are taken to be made first. This will maximise the FHSS release amount because:
- 100% of non-concessional count towards the release amount
only 85% of concessional contributions are included in your release because they have been taxed at 15% in your super fund.
When you should request a determination
You must request a FHSS determination before ownership of any real property transfers to you. Generally, ownership transfers following settlement of a property contract.
Once ownership of real property (including vacant land) has transferred to you, you're no longer eligible to request a FHSS determination.
Example: purchasing vacant land before contract to construct home
Paloma meets the eligibility requirements for the FHSS scheme. On 7 October 2024, she signs a contract to purchase vacant land in Wagga Wagga, on which she plans to construct her home. She requests and receives an FHSS determination on 17 October 2024.
Paloma registers her interest in the vacant land with the New South Wales Land Title Office on 27 November 2024. Paloma is not eligible to request another FHSS determination after she registers her interest, as she now holds a relevant interest, being a legal interest in real property in Australia.
Paloma can use the FHSS determination made on 17 October 2024 to request an amount be released from her super under the FHSS scheme. Paloma requests release of an amount from her super on 10 December 2024.
To meet the requirements of the FHSS scheme, Paloma must enter a contract for construction of her home by 10 December 2025, being 12 months after Paloma makes her release request. If she has not done so, we can allow her additional time, but only to a maximum of 12 extra months (until 10 December 2026).
Example: off-the-plan purchase
Dylan meets the eligibility requirements for the FHSS scheme and has not previously requested an FHSS determination. He:
- signs an off-the-plan contract to purchase an apartment in Brisbane on 25 May 2025
- registers this property interest with the Queensland Land Title Office on 30 September 2027.
There are some specific steps that Dylan needs to take to make sure:
- his off-the-plan contract counts as meeting the requirements of the FHSS scheme
- he does not need to pay additional FHSS tax.
Dylan must make sure that within 90 days after the date of the off-the-plan contract (23 August 2025), he:
- requests an FHSS determination
- requests release of an amount from his super
- notifies us of the contract.
For information on when you need to sign a contract to buy or build your first home, see Signing a contract for a home and notifying us.