EOFY checklist for first home buyers: 5 things to do before 30 June

• 30 June is the final day for your superfund to receive eligible FHSS contributions for the 2025–26 financial year.

• The 5% Deposit Scheme has no income caps, no waitlists and no LMI for eligible buyers.

• Help to Buy requires just a 2% deposit, but annual places are capped at 10,000.

• State grants and concessions vary, so it's worth checking your eligibility before you buy.

If you're saving for your first home, the end of the financial year can be a useful time to review your progress and make sure you're not missing out on opportunities that could support your savings goals.

While EOFY is often associated with tax returns and investment planning, there are also practical steps first home buyers may want to take before 30 June.

Missing key deadlines could mean waiting longer to access certain contribution limits or benefits available through government schemes.

Whether you're actively saving, planning to buy within the next 12 months, or simply exploring your options, this EOFY checklist covers five things worth reviewing before the financial year ends.

1. Make your FHSS contribution before 30 June

If you're using, or considering using, the First Home Super Saver Scheme (FHSS), the 30 June deadline is an important one.

To count towards the 2025–26 financial year, eligible voluntary contributions must be received by your super fund on or before 30 June 2026. Contributions received after this date generally count towards the following financial year.

The FHSS scheme allows eligible first home buyers to make voluntary super contributions that may later be released for a first home deposit.

FHSS contribution limits

Source: ATO First Home Super Saver Scheme Only voluntary contributions count towards the scheme.

This includes:

• Salary sacrifice contributions

• Personal deductible contributions

• Voluntary non-concessional contributions

Employer Super Guarantee contributions do not count.

One of the key benefits of the scheme is that concessional contributions are generally taxed at 15% within super, which may be lower than many people's marginal tax rate. Assessable FHSS released amounts generally receive a 30% tax offset.

Don't leave it until the last minute

If you're planning to make an EOFY contribution, check your super fund's cut-off dates.

BPAY and bank transfers can take several business days to process, and contributions must be received by your super fund before 30 June to count towards this year's limit.

2. Check how an FHSS withdrawal could affect other applications

One detail some first home buyers may overlook is how an FHSS withdrawal is treated for tax purposes.

When you request an FHSS release, the taxable component becomes assessable income in the year the release is requested, not necessarily when the money is received.

This may be relevant if you're applying for government programs, grants or concessions that use income information from your Notice of Assessment as part of their eligibility criteria.

That doesn't mean you shouldn't use the FHSS scheme. However, it may be worth discussing the timing of any withdrawal request with your accountant, registered tax adviser, or financial adviser.

An Aussie Broker can help you understand how your deposit and timing may affect your home loan planning.

Another important reminder: you must request a FHSS determination before ownership of the property transfers to you.

You might also be interested in: Why June is a smart time to review your home loan

3. Review your eligibility for government first home buyer schemes

Several government schemes are now available to eligible first home buyers, and EOFY can be a good time to check whether your circumstances align with any of them.

Australian Government 5% Deposit Scheme

The First Home Guarantee, formerly part of the Home Guarantee Scheme allows eligible buyers to purchase a property with as little as a 5% deposit without paying lenders mortgage insurance (LMI), with the Australian Government guaranteeing up to 15% of the property's value.

This is not a cash payment or deposit contribution.

Since 1 October 2025:

• Income caps have been removed

• Annual place limits have been removed

• The Regional First Home Buyer Guarantee has been merged into the main scheme

• The scheme is available through more than 30 participating lenders

Eligible buyers with at least a 5% deposit may be able to access the scheme, subject to lender requirements and scheme eligibility criteria.

You might also be interested in: State-by-state guide to buying with the 5% Deposit Scheme (formerly Home Guarantee Scheme)

Property price caps

Source: Housing Australia (Property price caps are current at the time of writing and may change.)

Help to Buy

The Australian Government's Help to Buy scheme launched in December 2025. Under the scheme, eligible buyers can purchase a home with a minimum 2% deposit.

The government contributes:

• Up to 40% of the purchase price for a new home

• Up to 30% of the purchase price for an existing home

In exchange, the government receives an equivalent equity stake in the property.  

Help to Buy at a glance

Source: firsthomebuyers.gov.au

Help to Buy has an annual allocation of 10,000 places. Housing Australia reported that more than 2,356 places had been conditionally or fully approved within the first two months of the scheme's launch.

Eligible buyers considering the scheme may wish to understand how it works and whether it suits their circumstances.

If you're considering either scheme, an Aussie Broker can help explain the eligibility requirements and application process.

You might also be interested in: Help to Buy Scheme – What first home buyers need to know

Comparing the major first home buyer schemes 

4. Check what grants and concessions may be available in your state

Federal schemes are only one part of the picture. Depending on where you're buying, you may also be eligible for state-based grants, stamp duty concessions or other first home buyer support.

Many First Home Owner Grants are generally limited to new or substantially renovated homes, and eligibility criteria can change over time.

Before making any decisions, check the latest information directly with your state's revenue office:

Reviewing federal and state support together can help provide a clearer picture of your buying position and the assistance you may be able to access.

You might also be interested in: EOFY super contributions – what home buyers need to know

5. Prepare your tax return early if you're planning to buy soon

If you're hoping to apply for a home loan later this year, lodging your tax return early may help streamline the process.

Lenders often use your Notice of Assessment to verify income as part of a home loan application.

The ATO's pre-fill information generally becomes available from mid-to-late July, while employers typically need to finalise Single Touch Payroll reporting by 14 July.

Having your tax return lodged and your Notice of Assessment available may help reduce one potential source of delay when you're preparing your home loan application.

The ATO generally recommends waiting until income information is marked ‘tax ready’ before lodging.

Speak with an Aussie Broker

There are several federal and state schemes available to eligible first home buyers but understanding how they fit together can be challenging.

An Aussie Broker can help you review your borrowing power, check your eligibility for available schemes and concessions, and build a plan towards your first home.

If you're hoping to buy in the next 12 months, EOFY can be a useful time to have that conversation.

Book an appointment with an Aussie Broker today.

Frequently asked questions