PDA

View Full Version : Kiwisaver for a trust



smpl
11-06-2016, 08:45 PM
My first property is owned by a trust and I did not use KS funds. I wish to purchase a second property, may I use my KS even if it will also be in the name of a trust? Yes I have been in KS for more than 3 years.

Harvey Specter
12-06-2016, 07:36 PM
I think they look through entities when determining previous houses.

Jay
13-06-2016, 07:06 AM
I may be wrong , but I'm sure I read that the property has to go at least into the name of the KS holder, so can be joint names but not a company or Trust. Harvey maybe right as well, so could out on both fronts.

777
13-06-2016, 07:40 AM
But what smpl is saying is that he already has his first home in a trust and wants a second house using his KS benefits.

Jay
13-06-2016, 10:11 AM
What I am saying if he gets past the hurdle of this proposed purchase not being his first home(as Harvey says), I don't think you can get the KSaver benefits if the home is to be owned by a trust.

Bjauck
13-06-2016, 10:30 AM
What I am saying if he gets past the hurdle of this proposed purchase not being his first home(as Harvey says), I don't think you can get the KSaver benefits if the home is to be owned by a trust. If the first hurdle is passed as to whether this will be the kiwisaver's actual first home, it may be up to the Kiwisaver provider as to what ownership structure (trust/company etc) it accepts for the Kiwisaver's first home if the kiwisaver wants to use funds from his kiwsaver account.

smpl
13-06-2016, 11:04 AM
Yep you guys have fully identified the problem.

It sounds like I can only try...

Peitro
15-06-2016, 10:29 AM
Had to jump through this hoop for the deposit subsidy, proof that I wasn't a discretional beneficiary. KS provider didn't dig so deep for the withdrawl.

smpl
14-07-2016, 05:15 PM
The short answer was No.

Thanks for all of your input.

peat
04-08-2016, 12:36 AM
My first property is owned by a trust and I did not use KS funds. I wish to purchase a second property, may I use my KS even if it will also be in the name of a trust? Yes I have been in KS for more than 3 years. the answer was in the very first word of your question.