Govt increase KiwiSaver income caps

  • 01/08/2016
Govt increase KiwiSaver income caps

From today, the Government has increased the income and house price caps for the KiwiSaver Homestart Scheme.

This means the income cap for first home buyers will increase from $80,000 to $85,000 for a single person, and from $120,000 to $130,000 for a couple.

You can also access Kiwisaver for a $10,000 grant to buy your first home - and that grant rises to $20,000 if you're building.

However, if you're in Auckland you can't spend more than $650,000.

For other main centres the cap is at $550,000, and elsewhere in the country the home needs to be $450,000 or less.

Independent Economist Shamubeel Eaqub joined Paul Henry to discuss if we're in danger of subsidising people into homes they can't afford.

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