Spaceship Super
Owning your first home in WA
Get into your own little piece of the West using the First Home Super Saver scheme and Australian Government 5% Deposit Scheme.
The information on this page is correct as of 3 November 2025 and may change. Check out the WA Government and ATO First Home Super Saver Scheme websites for the latest information.
Owning your first home in WA
How you could get extra help with your first home deposit in Western Australia.
First home buyer grants
WA's First Home Owner Rate of duty gives you a break on stamp duty. You'll pay no duty at all on homes up to $500,000, and get reduced rates on homes valued between $500,001-$700,000 in Perth Metro and Peel, or up to $750,000 in other parts of WA. Buying vacant land? No duty up to $350,000, with discounts available on land up to $450,000.
The Home Buyer Assistant Account offers a grant of up to $2,000 for incidental expenses on properties up to $500,000.
Upfront cost help
First home buyers in WA who face a high mortgage deposit — often around 20% — can apply for the national Australian Government 5% Deposit Scheme, to help reduce the deposit and avoid costly Lenders Mortgage Insurance.
Tax help with saving
The Federal First Home Super Saver scheme (aka FHSS or FHSSS) helps build savings for the deposit as the tax rate is generally 15%, which is well below normal income tax rates.
How it could work for you in WA
Office-worker Joel decides it’s time to move out of his sharehouse and buy a place of his own.
He likes the idea of something new and finds a home and land package just out of Perth that looks great and is on the market for $570,000. Since this is above $500,000, he'll pay a reduced rate of stamp duty under the First Home Owner Rate of Duty, but he still manages to afford it with these five steps:
- Joel qualifies for Western Australia’s First Home Owners Grant, which adds $10,000 to his available budget.
- The property is less than $600,000 and therefore is eligible for the Australian Government 5% Deposit Scheme. His lender then just requires a deposit of 5% i.e. $28,500.
- Since he began his new job four years ago, Joel has managed to put $3,000 worth of savings into an investment portfolio, and has voluntarily topped up his super by $20,000 using ‘contribute and claim’. His personal super contributions can be withdrawn under FHSS.
- As Joel’s normal income tax rate of 32% (including Medicare levy) is well above the 15% tax rate on super contributions, so he saves thousands of dollars in tax which he puts towards his deposit.
- When the time comes for him to pay his deposit, he applies to the ATO for an FHSS determination and cashes out the maximum releasable amount with associated earnings. The earnings are calculated by the ATO using the shortfall interest charge rate for each day from the date Joel made the contribution to the date of the determination. Here’s some more about how that works.
- Joel puts all his savings together, and lets his flatmates know they’ll need to start looking for a new flatmate.
Tip – In WA, there’s no stamp duty payable on homes up to $500,000 and concessions available for homes up to $700,000-$750,000 depending on location. Even so, saving early through your super can be rewarded with tax concessions under the First Home Super Saver scheme, which allows you to withdraw up to $50,000 plus earnings for your deposit.
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Saving more with the FHSS
How does the First Home Super Saver Scheme work?
How does the First Home Super Saver Scheme work?
The FHSS scheme is designed to help first-time buyers enter the housing market by allowing them to use some of their self-contributed super for a home deposit and achieve their goal of home ownership.
You must also meet certain other requirements, such as living in the home as soon as you can, and for at least six months of the first 12 months you own it.
Only voluntary super contributions can be used, but these are generally taxed lower than normal income so you can potentially save more, sooner.
How do I save using the FHSS?
How do I save using the FHSS?
To take advantage of the FHSS, you must make voluntary contributions to your own super first.
This can be a good way to save, because if you make before-tax contributions or after-tax contributions and claim a tax deduction on them, those funds are generally taxed at just 15% and not the regular, higher tax rate.
When you’re ready to buy your first home, you can then withdraw from those voluntary contributions, plus the earnings they’ve accumulated over time.
You can also make and use any after-tax contributions you make to your super.
Note, there are limits on how much you can contribute to your super each year.
- Check you’re eligible for the FHSS – are you 18 years old or over and a first home buyer? There’s no Australian citizenship or residency requirement to apply.
- Check that your super fund allows you to withdraw under the FHSS (Spaceship Super does!)
- Start out by contributing to your own super in any of the following ways:
- Contribute after-tax money to your super and then a claim tax deduction in your tax return.
- Salary sacrifice, by asking your employer’s payroll department to send some of your income directly to your super account instead of to you.
- Contribute after-tax money to your super account, without claiming a tax deduction.
- Options a and b count towards your ‘concessional contributions’ annual cap of $30,000 (including your employer contributions) and come with tax savings.
- Option c counts towards your ‘non-concessional’ annual cap of $120,000.
- There’s a $15,000 cap on how much you can save via the FHSS each year.
- Think financial years. Your annual limits reset on 1 July every year.
- When it comes time to start looking for a home, you apply for a FHSS Determination and a release from the ATO.
Make sure you get the determination before you sign a contract, so you know how much you’re able to withdraw as a deposit.
Much of the information will be pre-filled, but it will be handy to have a record of your contributions on hand just to check. - Buy your property!
You can make a release request either before or after signing a contract. If making a release request after signing a contract:
- For determinations made on or after September 15, 2024: Submit within 90 days of signing.
- For determinations made on or before September 14, 2024: Submit within 14 days of signing. The amount you withdraw via FHSS will be paid into your bank account. In most cases it will take between 15 and 20 business days. If you make a release request before signing a contract:
- You have up to 24 months (an initial 12 months with an automatic 12-month extension) to sign a contract. After signing a contract, you must notify the ATO:
- For determinations made on or after September 15, 2024: Notify within 90 days of signing.
- For determinations made on or before September 14, 2024: Notify within 28 days of signing.
- If more than one person is buying the home, each person can use their own FHSS as long as they meet the criteria.
Even if one person is not eligible, other eligible buyers can still apply for the FHSS.
Lowering your deposit with the Australian Government 5% Deposit Scheme
What is the Australian Government 5% Deposit Scheme?
What is the Australian Government 5% Deposit Scheme?
The Australian Government 5% Deposit Scheme is an Australian Government program designed to help eligible purchasers buy their first home with a deposit of 5% (or 2% for single parents and legal guardians), which is far below the 20% usually required by loan providers to avoid Lenders Mortgage Insurance.
How does the Australian Government 5% Deposit Scheme work?
How does the Australian Government 5% Deposit Scheme work?
The Australian Government 5% Deposit Scheme allows first-time home buyers to purchase a home with a deposit of as little as 5% of the property value (or 2% for single parents and legal guardians), rather than the usual 20% required by most lenders. By guaranteeing part of the mortgage, the scheme can help first-time buyers who don't have enough saved for a large deposit.
What are the eligibility criteria?
What are the eligibility criteria?
Generally, to meet the 2025 eligibility criteria for the Australian Government 5% Deposit Scheme in Western Australia, you must:
- Be a first home owner
- Hold Australian citizenship or be a permanent resident
- Be 18 years old or over
- Plan to live in the residence.
Only mortgages on residences can be included, but this could be for:
- Existing houses, terrace homes, units, duplexes, or apartments
- Vacant land when you have a contract to build a house
- Off-the-plan apartment, unit, or townhouse.
- Home and land package
In Perth, the property must be valued at no more than $850,000, and in other parts of WA up to $600,000.
Check out the Australian Government 5% Deposit Scheme website for full eligibility details.
Join Spaceship Super - One super account is all you need to save using FHSS
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