What super contributions count for the purposes of the FHSS Scheme?

FHSS Scheme - Reportable Superannuation Contributions

Only voluntary superannuation contributions made by you or for you since 1 July 2017 count. Reportable Superannuation Contributions

Further, only the first $15,000 of such contributions made in a single financial year can be counted.  Additionally, only $30,000 of such contributions can ever be counted.  These thresholds are not indexed. Super contributions.

Voluntary contributions are:

  • personal contributions made by you – whether or not you claim a tax deduction in respect of those contributions; and
  • employer contributions made in respect of you, which are in excess of the “9.5% SG contributions”. These could be salary sacrifice contributions or additional employer contributions. 

Other types of contributions do not count for FHSS Scheme purposes – such as GCT non-concessional contributions, personal injury/structured settlement contributions, spouse contributions and third party contributions.

Voluntary contributions made by or in respect of a super member aged under 18 years (so long as they are made on or after 1 July 2017), can also be counted for FHSS Scheme purposes.

For more information on any aspect covered in this article, please call SUPERCentral on 02 8296 6266 or  email info@supercentral.com.au.

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