First Home Saver Account

This refers to an account that helps first time home buyers save up for a mortgage deposit faster. With this account, the government will provide a 17% contribution on the first $6,000 the account holder deposits. So for a $6,000 deposit, the government will provide a contribution of $1,020. Withdrawing money from the account is only allowed once the account holder has saved at least $1,000 annually for 4 financial years.

First Home Saver Account Articles & Guides

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