Salary Sacrificing Superannuation for Your First Home Buyer Deposit

Salary Sacrificing Superannuation for Your First Home Buyer Deposit

In an effort to assist first home buyers to enter the market, the Federal Government has announced the First Home Super Scheme (FHSS).

This exciting initiative is a great option for potential first home buyers for the following reasons.

  • Salary sacrificing contributions to superannuation is a tax effective strategy
  • Superannuation contributions are an effective savings mechanism.  Funds cannot be withdrawn until you are ready to make a home purchase.
  • Under this scheme the earnings that your contributions make will be accessible.  Superannuation funds can potentially earn greater returns on investment than other forms of saving.

In order to protect the integrity of the superannuation system, the government has placed strict regulations on access to FHSS funds.


It is important to note that there is a one time access to FHSS funds and that the funds must be used to purchase your own home.  The home must be lived in for at least six months.

As the rules are strict in relation to FHSS release, it is imperative that you seek Financial Advice to ensure using this scheme to your best advantage.

If you would like help assistance with understanding and taking advantage of this initiative please contact Australian Finance Hub to arrange an appointment with one of our qualified financial advisors.