- Why has some of my First Home Withdrawal been clawed back or left in my KiwiSaver account?
Frequently Asked Questions
Why has some of my First Home Withdrawal been clawed back or left in my KiwiSaver account?
If you have received money from an Australian superannuation provider, that money is not eligible to be used for a First Home Withdrawal and will remain in your KiwiSaver account.
If you have lived overseas at any time while still receiving the KiwiSaver Government contribution, some of this money may be the subject of a ‘claw back’ by the IRD. This is because you are not entitled to the Government contribution when you’re not living in New Zealand. (It’s your responsibility to let your provider know you are going overseas, so that your entitlement to the government contribution is assessed correctly.)
You also need to leave $1000 balance in your KiwiSaver account after making the withdrawal.