First Home Saver Accounts

If you open a first home saver account, the ATO will add money to your account and tax your earnings at 15% to help you save for your first home. The more money you save, the more the government will contribute (up to a certain limit each year).

When you have a first home saver account you will need to keep the money in the account for a minimum period of time. Once that time has passed and you make the decision to buy or build your first home, you will have to withdraw all the money at once and close the account. You will then need to use the money as a deposit or to meet other costs you incur as a result of buying or building your first home.


To open a first home saver account, you must:

  • Be between 18 and 65 years old
  • Have a tax file number you can quote in your application
  • Not have previously owned a home in Australia that has been your main residence
  • Not have previously had a first home saver account

First Home Saver Accounts can be part of a strategy to get into your first home sooner. Chat to us about how we can help.