KiwiSaver first home withdrawal — what you can take out, what is left to save, and a letter to your provider

KiwiSaver first home withdrawal

What KiwiSaver gives you, what is left to save — and when

Put in the price, the deposit, your KiwiSaver balance and what you save each month. You get what you can withdraw (everything except $1,000 after 3 years), the gap and the month you reach your deposit.

Home price, $ Deposit, % of the price Ask your bank what it needs KiwiSaver balance, $ From your provider or myIR In KiwiSaver for 3 years or more Yes No Other savings, $ Lawyer, building report, moving, $ Example — put in your quotes You can save each month, $

1. Ask your KiwiSaver provider for your balance and how they handle a first-home withdrawal — the letter below asks it in writing.
2. In myIR you can download a PDF of your income and KiwiSaver deductions for a Kāinga Ora application.
3. Keep saving with the plan; your lawyer usually holds the withdrawn money until settlement.

Rules (Inland Revenue, «Getting my KiwiSaver savings for my first home», updated 28 May 2024): you must be in KiwiSaver for at least 3 years; you must leave $1,000 in your account; you can withdraw your contributions, your employer’s, the government contribution, interest and any fee subsidies; funds transferred from an Australian complying super scheme cannot be withdrawn. Talk to your provider and Kāinga Ora. Interest and returns are not counted here.