Good News For First Home Buyers
Larger KiwiSaver withdrawals will be possible
Right now, if first home buyers choose to, then they can withdraw all funds from their KiwiSaver accounts except for the member tax credit (this is the government’s ongoing contribution to KiwiSaver), and the government’s kick-start contribution of $1,000.
As of 1 April 2015, this will change to allow first home buyers to withdraw their member tax credit.
If you know someone who wants to purchase their first home, put them in touch with me and I’ll explain what the changes to KiwiSaver mean for them.