Skip to main content Skip to accessibility page Skip to search input

Saving for a home loan deposit


Voluntary contributions you make can be accessed from 1 July 2018 subject to meeting eligibility criteria. Whether using concessional or non-concessional contributions, the amount you can withdraw is capped at $15,000 a year (or a maximum of $30,000 in total). Superannuation Guarantee contributions, as well as contributions that don’t count towards or are in excess of the contributions cap, cannot be accessed under the FHSSS as part of your deposit.

How does it work?

When you plan to buy your first home, you will need to apply to the Australian Taxation Office (ATO) directly to access savings under the contributions and the deemed earnings on these contributions.

Deemed earnings are returns that your contributions might have earnt while invested in the superannuation environment. The ATO calculates these based on the 90 Day Bank Bill rate plus three percentage points (as per the Shortfall Interest Charge).

Things you should know

This information is current as at 4 July 2017.




Any tax considerations outlined above are general statements, based on an interpretation of the current tax law, and do not constitute tax advice.  The tax implications can impact individual situations differently and you should seek specific tax advice from a registered tax agent or registered tax (financial) adviser.

Any projections are predictive in character. Whilst we have used every effort to ensure that the assumptions on which the projections are based are reasonable, the projections may be affected by inaccurate assumptions or may not take into account known or unknown risks and uncertainties. The actual results actually achieved may differ materially from these projections.
