Buying first home is now easier

A change to the KiwiSaver rules will make saving for a first home considerably easier, says Minister of Housing Phil Heatley.

From April 1, the amount employees will have to save to qualify for the KiwiSaver first home subsidy will drop from 4 per cent to 2 per cent of their pay. For non-employees - including the self employed, beneficiaries and others out of the workforce - the same principle will apply. Mr Heatley said more detail would be announced before April 1.

The subsidy ranges from $3000 to $5000. For a couple, it's $6000 to $10,000.

The change is in line with the reduction of the minimum KiwiSaver employee contribution from 4 per cent to 2 per cent of pay from April 1. But the Government only decided yesterday to drop the contribution requirement for the first home subsidy.

To read the full NZ Herald story click here

Posted: 11 Mar 2009

News articles

Browse articles
by date

September 2013

July 2013

June 2013

May 2013

December 2012

November 2012

September 2012

June 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011

February 2011

January 2011

December 2010

November 2010

October 2010

September 2010

August 2010

July 2010

June 2010

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

November 2009

October 2009

September 2009

August 2009

July 2009

June 2009

May 2009

April 2009

March 2009

February 2009

January 2009

December 2008

November 2008

October 2008

September 2008

May 2008

April 2008

March 2008

Please disregard these fields.


banner ad