\u201cWorkers in service tenancies, such as farm workers, rural teachers, country cops, and defence personnel, have effectively been locked out of first home withdrawal because their jobs require them to live in employer-provided housing,\u201d Willis said.<\/p>\n
Service tenancy workers could own homes they don\u2019t live in<\/p>\n
Willis said the government will move to adjust the law so the residency test no longer penalises those tied to on-site roles.<\/p>\n
\u201c[That\u2019s] not fair, so we\u2019re making a technical change to the KiwiSaver Act to ensure workers in service tenancies aren\u2019t denied the opportunity to put a foot on the property ladder. The change will allow service tenancy workers to use their KiwiSaver for a first home purchase without having to live in it,\u201d she said.<\/p>\n
The reform responds to years of pressure from rural communities, which have argued that KiwiSaver\u2019s first-home settings were designed around urban lifestyles and ignored common employment arrangements in farming and other essential services.<\/p>\n
KiwiSaver access widened for first-time farm buyers<\/p>\n
The package also modernises how aspiring farmers can structure their purchases. Commerce and Consumer Affairs Minister Scott Simpson said first-time farm buyers will be able to use KiwiSaver to buy a property through a company or trust they majority own, if it is their main home.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cWorkers in service tenancies, such as farm workers, rural teachers, country cops, and defence personnel, have effectively been…\n","protected":false},"author":2,"featured_media":326155,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[72,151047,176,151046,61,60,3246,174,175],"class_list":{"0":"post-326154","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-farm-workers","10":"tag-finance","11":"tag-first-home","12":"tag-ie","13":"tag-ireland","14":"tag-kiwisaver","15":"tag-personal-finance","16":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/326154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=326154"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/326154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/326155"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=326154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=326154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=326154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}