If you previously applied for FHSS scheme
Changes to the first home super saver (FHSS) scheme may allow previously unsuccessful applicants to now have a FHSS amount released. These changes take effect from 15 September 2024.
If you've already had a FHSS amount released
If you've previously had an amount released from your super under the FHSS scheme, you can't access the scheme again. This includes if you had a FHSS amount offset against a Commonwealth debt.
These changes do not apply to you, and you cannot request to have additional amounts released.
If you now own a property
If you previously applied and did not receive a FHSS amount, you may now be able to access the FHSS scheme if you meet all the following:
- You received a FHSS determination before 15 September 2024.
- You haven't received any FHSS amount (including having an amount offset against Commonwealth debt).
- Ownership of real property transferred to you (generally following settlement of a property contract) after the relevant determination was made.
If these circumstances apply you can only request an amount up to the maximum amount you could have had released at the time your original determination was made. This means you can only use eligible contributions from 1 July 2017 up to the date of your original determination.
Accessing the FHSS scheme when you now own property
There is a period of 3 years from 15 September 2024 to 14 September 2027 for eligible previous applicants who now own property to access the scheme.
We will use the information we hold to consider whether you can request a release under the FHSS scheme. If you can, we will contact you to confirm that you still wish to use the scheme and whether you want to submit a new release request. You don't need to contact us.
When we contact you, we may also ask for information about your eligible contributions and documents related to the purchase of your property.
If you do not yet own a property
If you applied before 15 September 2024 and did not have a FHSS amount released and you do not yet own a property, then you can reapply for the FHSS scheme.
You can reapply any time as long as you have made eligible contributions to your super fund(s). To reapply you can either:
Work out your eligibility for the FHSS scheme
The table below explains the new eligibility criteria for the FHSS scheme from 15 September 2024.
Before the law changes | After the law changes (from 15 September 2024) |
---|---|
There is a limited time where changes can be made or where errors can be fixed. You cannot stop using the FHSS scheme after making a release request if you change your mind. | Changes can be made to your participation in the FHSS scheme and errors can be fixed, including if you change your mind before we've started processing amounts your super fund sends to us. |
You must have applied for your FHSS determination before signing a contract for any property. | You must have applied for a FHSS determination from us before any property contract is completed (generally known as settlement) and ownership of the real property transfers to you. |
You can request a release up to 14 days after you enter into a contract to purchase or construct a home. You have up to 2 years to sign a contract to purchase or construct your home, after the date you made a valid release request. | You can request a release up to 90 days after you enter into a contract to purchase or construct a home. You must have a FHSS determination before you submit a release request and you need a determination before you settle on a property. You have up to 2 years to sign a contract to purchase or construct your home, after the date you made a valid release request. |
Users of the FHSS scheme who made errors have no ability to correct them and are unable to make further release requests. | If you now own a property and your previous application for a FHSS release was unsuccessful, you may now be able to request a release if you:
We'll contact prior applicants who meet the eligibility criteria. If you're eligible, you can't request an amount greater than the maximum amount you could have had released at the time your original determination was made. If you do not yet own a property:
|
Learn more about applying for the FHSS scheme.