{"id":870,"date":"2023-01-27T06:56:24","date_gmt":"2023-01-27T01:26:24","guid":{"rendered":"https:\/\/ausizealand.com\/?p=870"},"modified":"2023-04-20T17:01:58","modified_gmt":"2023-04-20T11:31:58","slug":"using-kiwisaver-can-i-buy-a-home-in-australia","status":"publish","type":"post","link":"https:\/\/ausizealand.com\/using-kiwisaver-can-i-buy-a-home-in-australia\/","title":{"rendered":"Using kiwisaver can i buy a home in australia?"},"content":{"rendered":"
KiwiSaver is a government-backed savings scheme in New Zealand<\/a> that helps citizens save for their first home, retirement, and other long-term goals. The scheme has been popular in New Zealand since its introduction in 2007, and many people have successfully used KiwiSaver to purchase their first home. In this article, we will explore how KiwiSaver works and how it can be used to buy a house in Australia.<\/p>\n KiwiSaver is a voluntary scheme that is open to all New Zealand residents aged 18 or over. To join, you simply need to choose a provider and open an account. Once you have done this, you can start making regular contributions to your account.<\/p>\n There are many benefits to using KiwiSaver. One of the main benefits is that your contributions are matched by the government. This means that for every dollar you contribute, the government will contribute 50 cents, up to a maximum of $521.43 per year. This can help you to save more money in a shorter period of time.<\/p>\n Another benefit of using KiwiSaver is that your money is invested in a variety of different investment funds. This means that your money can grow over time and provide you with a larger nest egg when you retire.<\/p>\n KiwiSaver is a voluntary savings scheme that is open to all New Zealand<\/a> citizens and permanent residents. When you join Kiwi<\/a>Saver, you can choose to have a percentage of your salary automatically deducted and deposited into a KiwiSaver account. The government also provides a contribution to your account in the form of a member tax credit, which is currently $521.43 per year.<\/p>\n To be eligible for the KiwiSaver HomeStart grant, you must have been a member of KiwiSaver for at least three years, and you must also meet certain income and asset limits. The HomeStart grant provides up to $10,000 for individuals purchasing an existing home and up to $20,000 for individuals purchasing a new home.<\/p>\n In addition to the HomeStart grant, you may also be eligible for the KiwiSaver first home withdrawal. This allows you to withdraw your KiwiSaver savings<\/a> (excluding the government contribution) to put towards purchasing a first home. You will be required to live in the property as your principal place of residence for at least six months, and you will have to repay any money withdrawn over a period of time.<\/p>\n