Buying your first home with KiwiSaver

Not only does KiwiSaver include a number of benefits designed to help you reach your retirement goals, it also offers two features to help members buy their first home:

■  First Home Withdrawal
■  First Home Subsidy (contact Housing New Zealand Corporation).

Both of these options may help members to buy their first home, or the land on which to build their first home. The withdrawal and subsidy may be available to members who have previously owned a home and are in the same financial position as a first home buyer.

If you are interested in finding out more, get in touch!

Transferring your Australian Superannuation to NZ

The New Zealand and Australian governments have confirmed that from 1 July 2013, transfers between KiwiSaver schemes and Australian complying superannuation funds (Australian Funds) will be possible.

Here are some of the key points:

• It will be voluntary for KiwiSaver scheme and Australian Fund providers to accept transfers into their schemes.
• Transfers of retirement savings between countries will be exempt from entry and exit taxes (subject to non-concessional caps in Australia).
• From 1 July 2013, KiwiSaver members will no longer be able to withdraw their KiwiSaver savings in cash when they emigrate to Australia permanently.
• If Australian Funds are transferred into a KiwiSaver scheme, the KiwiSaver rules will apply to those funds, except that those funds:
  • will be locked in until the investor reaches age 60 and retires
  • won’t be available for a first home withdrawal
  • will not be counted for the Government annual contribution
  • can’t be taken to a third country.

For more information and assistance with transferring your Aussie Super to NZ, get in touch!