Tuesday 17 May 2022 07:19 AM First home buyers from NZ to the US and Canada can raid their superannuation to ... trends now
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Allowing citizens to dip into their retirement accounts to help them afford their first home is common practice overseas, but experts say it's hard to know the extent to which they've jacked up house prices.
The Morrison Government's election-eve proposal to allow Australians to withdraw a portion of their super for a first home deposit has prompted fierce debate, with the superannuation industry and some housing advocates claiming it would raise house prices.
Across the ditch, Kiwis have been able to dip into their Kiwisaver retirement accounts for a first home deposit since the individual retirement account program began in 2007.
The Morrison Government's proposal to allow Australians to withdraw a portion of their super for a first home deposit has prompted fierce debate, with the super industry and some housing advocates claiming it would raise house prices.(Pictured: An auction in Melbourne, Victoria)
New Zealanders can withdraw nearly everything from those accounts, leaving as little as NZ$1,000 in them.
For people earning less than a certain amount, the NZ government
