money money money 829b First Home Super Saver (FHSS) scheme: the best kept secret for first home buyers
Jul 23, 2025
Join Vince Scully from LifeSherpa as he uncovers the secrets of the First Home Super Saver (FHSS) scheme! Discover how this scheme can change the game for first-time buyers by enabling tax-efficient savings through superannuation. Vince dives into the benefits of voluntary contributions, including how income levels affect access and potential pitfalls. He shares strategies to maximize your savings for a future home while revealing tips for parents looking to support their kids in this journey. Get ready to redefine home buying!
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Tax Savings Through Salary Sacrifice
- Salary sacrificing into super saves tax at 15% instead of up to 32% marginal rate.
- This yields an effective $7,650 tax benefit over $50,000 contributions, a 22.5% risk-free return.
Tax Focus Over Investment Return
- The FHSS scheme is primarily a tax strategy, not an investment strategy.
- Government-applied deemed earnings ensure fair adjustment on withdrawn amounts regardless of actual fund performance.
Year-End Contributions Accelerate Benefits
- You can flush money through the scheme quickly by contributing just before and after the financial year ends.
- This accelerates accessing tax advantages even if buying a house soon.
