Your super balance is not your FHSS release amount

Your total super balance is not automatically available through the First Home Super Saver Scheme (FHSS). Moneysmart's house-deposit guide, updated 6 August 2026, says the scheme can use up to $15,000 of voluntary contributions from each financial year and up to $50,000 in total.

The Australian Taxation Office (ATO) calculates an FHSS maximum release amount from eligible voluntary contributions and associated earnings. Your account balance can also contain compulsory employer contributions, other super amounts and actual fund earnings that are not simply released as an FHSS deposit.

Why the release amount can be lower

Eligible non-concessional voluntary contributions — 100% may be included in the contribution component of the maximum release amount.

Eligible concessional contributions — 85% of salary-sacrifice contributions and eligible personal contributions claimed as a tax deduction may be included.

Associated earnings — the ATO adds calculated associated earnings under FHSS rules; these may differ from the actual investment earnings shown by the super fund.

Illustrative annual-limit example

If a buyer makes $15,000 of eligible salary-sacrifice contributions in one financial year, the full $15,000 uses that year's FHSS contribution limit. Because it is concessional, 85%—$12,750—forms the releasable contribution component, plus associated earnings calculated by the ATO. This is an illustration of the rule, not a forecast of the buyer's final payment after tax or any offsets.

Four checks before relying on FHSS

Voluntary contributions — check the dates, amounts and contribution types reported by your super fund; only eligible voluntary amounts count.

Annual and overall limits — the scheme assesses up to $15,000 of eligible voluntary contributions per financial year and $50,000 across all years.

FHSS determination — request and review the ATO calculation before requesting release. The determination must be requested before ownership of real property transfers to you.

Release timing — after a valid release request, the ATO says it may take 15–20 business days to receive the money. Contract and notification time limits also apply.

Before setting an offer or settlement date

Check your contribution records in ATO online services through myGov, request an FHSS determination and confirm the amount before treating it as available deposit money. Then allow for the release window and keep your lender, conveyancer or solicitor informed about settlement timing.

Sources

Moneysmart — Save for a house deposit

Australian Taxation Office — First home super saver scheme

General information only. This is not financial advice. Loan options and eligibility depend on your personal income, liabilities, assets and lender assessment criteria.