You participate in the scheme by making voluntary contributions to your Hostplus super account.
The contribution types eligible for the FHSSS are outlined below.
- Voluntary concessional contributions – including salary sacrifice amounts or contributions for which a tax deduction has been claimed or you intend to claim, these are usually taxed at 15% in your fund.
- Voluntary non-concessional contributions that you have made – including personal after-tax contributions where a tax deduction has not been claimed.
You can contribute up to your existing super contribution caps. Having amounts released under the FHSS scheme does not affect the calculation of your concessional or non-concessional contributions for contributions cap purposes. Your contributions still count towards your contribution caps for the year they were originally made.
There are limits on the amount of eligible contributions that can count towards your maximum releasable amount.
For more information about contribution types and caps, please refer to our Member Guide and the ATO website.