When relocating from New Zealand to Australia, you can transfer KiwiSaver funds to an Australian superannuation account. The FHSSS in Australia may also be an option, with its own eligibility criteria. Stay updated with regulatory changes by consulting experts and authorities.
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“Anyone here moved from nz to aus? Have you moved your kiwisaver? And if so, what super provider accepts kiwisaver? Thanks in advance. And would our kiwisaver, when converted to super be used as a first home withdrawal in aus? Given it has already been withdrawn here in nz to buy our first home.”
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Moving KiwiSaver to Australia:
When moving from New Zealand to Australia, you have the option to transfer your KiwiSaver funds to an Australian superannuation account. Many Australian superannuation providers accept KiwiSaver transfers. You should check with individual superannuation providers to confirm their specific requirements and the process for transferring your KiwiSaver funds.
Using KiwiSaver for a First Home Withdrawal in Australia:
In Australia, there is a similar scheme to KiwiSaver called the First Home Super Saver Scheme (FHSSS). Suppose you’ve already used your KiwiSaver for a first home withdrawal in New Zealand. In that case, you may still be eligible for the FHSSS in Australia. However, the FHSSS has its own rules and eligibility criteria, so it’s essential to check with the Australian Taxation Office (ATO) or a financial advisor to determine your eligibility and understand how it works in your specific situation.
Keep in mind that financial regulations can change over time, so it’s crucial to consult with experts or relevant government authorities in both New Zealand and Australia to get the most up-to-date and accurate information regarding your KiwiSaver and superannuation options when moving between the two countries.
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The views expressed in this article are the views of the author. The information provided is of a general nature and is not intended to be personalised financial advice. You may seek appropriate financial advice from a Financial Adviser to suit your individual circumstances or contact National Capital.
