Am I definitely going to be able to transfer my Australian Superannuation into my KiwiSaver account? And can I use it to buy my first home?

6 January 2012

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A

Everything you need to know about transferring your Australian Superannuation into your KiwiSaver account is available on our website here:

http://www.gmi.co.nz/pages/kiwisaver/91/Transfer-Australian-Super-to-KiwiSaver.aspx

 

Although the Australian and New Zealand Governments have agreed to allow the transfer of Australian Super funds to KiwiSaver, the new rules which will allow the transfers will only apply once Australia has enacted the necessary legislation (the New Zealand legislation was enacted in 2010).

 

Unfortunately, you won’t be able to use any amount transferred from an Australian Super Scheme to help you purchase your first home. The Australian Super transfer rules do not allow for Superannuation funds to be withdrawn for a first home, and the KiwiSaver Act has been amended to reflect this.

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  • Scotty 1 year ago

    Ah... I've been looking for this answer - thanks. Not quite the result I wanted though, I was hoping to transfer my Aus super to my Kiwisaver then draw down to aid the deposit on my 1st home. I imagine there are many out there in a similar situation who lived and worked in Aussie during their early twenties and now returned to NZ and approaching the nesting phase.

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