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LollardHeretic(Newbie)Newbie
6 May 2024

Hey there,


I have about 35k in my NZ based KiwiSaver fund and would like to transfer this over to an Australian super fund for the purpose of FHSS.


I understand that to make effective use of FHSS you should ensure you have concessional cap available to make concessional contributions.


There is also a 15k per year limit for FHSS, while I have to transfer the full 35k in one year.


I think ensuring I have enough concessional cap is clear enough as I can let unused cap roll over multiple years (up to the limit), however with the FHSS yearly cap it doesn't seem to roll over?


Is there anything I'm missing here? What options do I have available?

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308 views
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Most helpful replyATO Certified Response

Deb_ATO(Community Support)Community Support
ATO Certified Response7 May 2024

Hi @LollardHeretic


Nope, that's right the FHSS yearly cap doesn't roll over. Another thing to remember. You can't split the transfer over different financial years. When KiwiSaver amounts are transferred, they're considered an after-tax contribution, and you can only access the limit for that one financial year. But for the cap. You're going to be well under. The non-concessional contributions cap is more than what you're going to transfer.


Check out another one of our helpful posts with a similar question. 

All replies

Most helpful replyATO Certified Response

Deb_ATO(Community Support)Community Support
ATO Certified Response7 May 2024

Hi @LollardHeretic


Nope, that's right the FHSS yearly cap doesn't roll over. Another thing to remember. You can't split the transfer over different financial years. When KiwiSaver amounts are transferred, they're considered an after-tax contribution, and you can only access the limit for that one financial year. But for the cap. You're going to be well under. The non-concessional contributions cap is more than what you're going to transfer.


Check out another one of our helpful posts with a similar question. 

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How can I maximise the amount from my transferred KiwiSaver to Super for the purpose of FHSS? | ATO Community