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  1. #1
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    Default Kiwisaver for a trust

    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.

  2. #2
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    I think they look through entities when determining previous houses.

  3. #3
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    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.

  4. #4
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    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.

  5. #5
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    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.

  6. #6
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    Quote Originally Posted by Jay View Post
    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.
    Last edited by Bjauck; 13-06-2016 at 10:32 AM.

  7. #7
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    Default

    Yep you guys have fully identified the problem.

    It sounds like I can only try...

  8. #8
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    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.

  9. #9
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    The short answer was No.

    Thanks for all of your input.

  10. #10
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    Quote Originally Posted by smpl View Post
    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.
    For clarity, nothing I say is advice....

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