In order to release your FHSS scheme savings, you need to get in contact with the ATO who will inform you of the maximum amount you can release under the FHSS scheme. These withdrawals will typically be taxed at your specific marginal tax rate minus a 30-percent rebate. The ATO will then organise the release of your money from your super fund which will then be paid on to your chosen bank account. The ATO will be responsible for withholding your tax owed on the amount withdrawn.