How to Withdraw KiwiSaver for Your First Home Deposit in New Zealand

For aspiring first home buyers in Auckland, Wellington, and across New Zealand, your KiwiSaver balance often represents the largest portion of your house deposit.

Under Inland Revenue (IRD) guidelines, you can withdraw almost your entire KiwiSaver balance once you have been a contributing member for at least 3 years.

KiwiSaver First Home Withdrawal Checklist

1. Eligibility Threshold: Must have contributed to KiwiSaver for a minimum of 3 years (not necessarily consecutive).
2. The $1,000 Balance Rule: You can withdraw your employee contributions, employer contributions, government contributions, and investment earnings. However, you must leave exactly $1,000 in your account.
3. Primary Residence Only: The property must be intended as your primary residence—you cannot use a KiwiSaver first-home withdrawal for an investment or rental property.

Free Government Contributions: The $521.43 Annual Top-Up

Ensure you contribute at least $1,042.86 between 1 July and 30 June each year to receive the maximum government contribution of $521.43 (50 cents per dollar contributed). This represents an instant, risk-free 50% return on your capital.

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