First Home Super Saver Calculator AU 2025-26

What this calculator works out

This calculator estimates the First Home Super Saver (FHSS) release the ATO would pay you for a first home deposit, based on your voluntary super contributions for FY2025-26. It works out the eligible contributions after the A$15,000 annual cap and the A$50,000 lifetime cap, the associated earnings the ATO would pay on top using the Shortfall Interest Charge (SIC) rate, the simplified tax on release after the 30% non-refundable tax offset, and the dollar difference against the same amount left in a regular high-interest savings account.

The point of the FHSS is that voluntary concessional contributions land inside super at the 15% contributions tax rather than your marginal rate, then come back out at a discounted rate when you buy a first home. The calculator focuses on the dollar release figure and the SIC growth advantage; it does not separately credit the upfront salary-sacrifice tax saving, which is the other major piece of the scheme's value and often dwarfs the post-release tax for high marginal-rate earners.

The formula and where the rates come from

The settings used here are the published FY2025-26 figures from the ATO and ASIC MoneySmart:

Setting	FY2025-26 value
FHSS annual cap (eligible voluntary contributions per year)	A$15,000
FHSS lifetime cap (eligible voluntary contributions across all years)	A$50,000
Concessional contributions tax inside the fund	15%
Shortfall Interest Charge (SIC) rate — used for associated earnings	~7.1% (90-day BAB + 3 percentage points; published quarterly)
Tax offset on the released amount	30% (non-refundable)

The calculation is:

1. Annual eligible contribution = min(annual voluntary contribution, A$15,000).
2. Total contributions = annual eligible × years contributing + existing FHSS-eligible balance.
3. Releasable contributions = min(total contributions, A$50,000).
4. Associated earnings = SIC compounded annually on the eligible balance, then pro-rated to the released portion when the lifetime cap bites.
5. Gross release amount = releasable contributions + associated earnings.
6. Tax on release = gross release × max(0, marginal rate − 30%).
7. Net release after tax = gross release − tax on release.

For the savings account comparison, the same dollar contribution is deposited each year at the chosen rate, with interest taxed at the marginal rate each year — i.e. the effective compounding rate is interest rate × (1 − marginal rate).

How to read the inputs

• Annual voluntary contribution — the gross annual salary-sacrifice or personal-deductible contribution. Only the first A$15,000 each year counts towards an FHSS release; anything extra still sits in super as concessional contributions but is not part of the FHSS pool.
• Years contributing — whole number of full years over which you make the voluntary contributions. The lifetime cap caps out at four full years of A$15,000 contributions.
• Existing FHSS-eligible balance — voluntary contributions already counted as FHSS-eligible from earlier years. This is the starting balance the SIC accrues on. Set it to 0 if you are starting from scratch.
• Marginal income tax rate (FY2025-26) — the bracket your taxable income for the year of release will sit in. The dropdown excludes the 2% Medicare levy; if you want a more conservative figure you can mentally add the 2% to the bracket.
• Savings account interest rate — the comparison rate for a high-interest savings account. Enter the headline rate as a decimal (4.5% as 0.045). The model assumes the interest is fully taxed at the marginal rate each year.

Worked examples

1. 30% bracket, three years of A$10,000. A salary-sacrifice of A$10,000 a year for three years gives total eligible contributions of A$30,000, well under the A$50,000 cap. With SIC at ~7.1% per year, the FHSS balance grows to about A$32,180. With marginal at 30% the release tax is zero (30% − 30% offset). The same dollars in a savings account at 4.5% (effectively ~3.15% after tax) grow to about A$30,955. The typical FHSS advantage on these inputs is around A$1,200 from the SIC vs after-tax savings differential alone — and that is before the upfront salary-sacrifice tax saving (a A$10k sacrifice saves the difference between the marginal rate and the 15% in-fund rate at the time of contribution).

2. Lifetime cap, four years of A$15,000. Four full years at A$15,000 is A$60,000 of eligible contributions — A$10,000 over the cap. Only A$50,000 plus the pro-rated SIC associated earnings can be released for the FHSS; the remaining A$10,000 stays in super until preservation age. The calculator reports the gross release at around A$55,580 with no extra release tax for a 30% bracket earner, illustrating why the cap is the binding constraint for higher-income savers.

3. 45% bracket and the cap. Same A$60,000 contributions, but with marginal tax at 45%, the release tax is roughly 15% of the gross release — about A$8,340, leaving a net release near A$47,240. Against the same dollars in a savings account at an effective ~2.475% (4.5% × (1 − 0.45)), the savings balance reaches around A$62,265 over four years. Under this calculator's narrow lens the savings account looks ahead, but in practice the salary-sacrifice tax saving (A$15k × (45% − 15%) = A$4,500 a year, A$18,000 across four years) flips the comparison decisively in favour of FHSS for top-bracket earners.

4. Existing balance. A first home buyer who already has A$5,000 of FHSS-eligible contributions and adds A$10,000 a year for three years has total eligible contributions of A$35,000. The SIC then compounds on the existing balance from year one, lifting the gross release figure relative to a fresh starter even though the contribution flows are identical.

Common pitfalls

• The annual cap counts eligible voluntary contributions, not your concessional cap. The standard concessional cap (A$30,000 for FY2025-26) still applies and includes Super Guarantee. Going over the concessional cap creates excess concessional contributions tax separately from anything FHSS-related.
• Super Guarantee does not count towards FHSS. Only voluntary contributions made on or after 1 July 2017 are eligible. Employer SG, mandated award contributions and contributions made under a binding salary agreement before that date are excluded.
• The lifetime cap is not the deposit you receive. The cap applies to eligible contributions counted towards the release. Associated earnings are paid on top of the released contributions, so the gross release figure is typically higher than A$50,000 for someone who saves to the cap.
• You apply for a determination before you sign. Request a determination through ATO online services in myGov before signing a contract, otherwise you are not eligible for the release. After signing you have 14 days to request the release if you have already received a determination.
• Time limits after release. Once the ATO releases the money you generally have 12 months to sign a contract (extendable by up to 12 more months on request). If you do not buy in time you must either recontribute the released amount as a non-concessional contribution or pay a 20% FHSS tax on the assessable portion.
• Couples can both apply. A couple buying together can each request an FHSS release against their own contributions, doubling the effective deposit boost up to A$50,000 each.

When to talk to a professional

This calculator gives a general estimate based on public ATO and ASIC MoneySmart material. For advice on specific decisions — whether to maximise salary sacrifice in the run-up to a purchase, how an FHSS release interacts with the First Home Buyer Assistance Scheme stamp duty concession in NSW or the equivalent VIC and QLD concessions, or how to handle an extension of the 12-month buy-by deadline — talk to a registered tax agent, a licensed financial adviser or a mortgage broker. Nothing on this page is personal tax, financial, super or property advice.

Related calculators

• NSW stamp duty calculator — pair the FHSS release with the First Home Buyer Assistance Scheme threshold to size the upfront cash you need on settlement.
• VIC stamp duty calculator — Victoria first home buyer duty exemption and concession against the FHSS deposit boost.
• Salary sacrifice super calculator — model the upfront marginal-rate tax saving on the same voluntary contributions you are routing through FHSS.
• Division 293 extra super tax calculator — high income earners salary-sacrificing into super for an FHSS release should sense-check the extra 15% Division 293 tax over A$250,000.
• HECS-HELP repayment calculator — first home buyers with a HELP debt should check how voluntary super contributions affect their HRI-based compulsory repayment.

Source: ATO — First Home Super Saver Scheme · ATO — FHSS eligibility · ATO — How to apply for FHSS · ATO — General Interest Charge and Shortfall Interest Charge · ASIC MoneySmart — Super contributions · ASIC MoneySmart — First Home Super Saver Scheme.