You can apply for the deposit subsidy if you have belonged and contributed to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years.
The subsidy is $1,000 for each year of contribution to the scheme:
3 years of contributing = $3,000 (the minimum you can get)
4 years of contributing = $4,000
5 years of contributing = $5,000 (the maximum you can get)
You can buy a property with other people who may also qualify for a deposit subsidy.
You may only receive the deposit subsidy once, and it is paid directly to your solicitor, on settlement day.
Eligibility criteria
Step 1: Check you are eligible for the deposit subsidy:
I am 18 years or older
I have not received a deposit subsidy before
I am a member of a KiwiSaver scheme, complying scheme or exempt employer scheme
I have contributed at least the minimum percentage of my income to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years (does not need to be consecutive). From 1 July 2007 to 31 March 2009 the minimum contribution was 4 percent of income. From 1 April 2009, the minimum contribution was reduced to 2 percent
I have a combined yearly income of $100,000 or less (before tax) for one or two buyers, or I have a combined yearly income of $140,000 or less (before tax) for three or more buyers
I am buying one of the following types of property and land arrangements: (for more information on these property types — see our FAQs or talk to your lawyer)
Fee Simple
Stratum estate freehold and leasehold
Cross-lease (freehold and leasehold)
Leasehold作者: NewLynnHse 时间: 2011-8-16 13:22:23
