Banking & Finance Archives

KiwiSaver changes open the door to first farm ownership

May 6, 2026

Banking & Finance, Government & Policy, Property Law, Rural & Agricultural Law, Wealth & Retirement Planning

Good news for rural workers

The government has announced important changes to KiwiSaver that will make it easier for farmers and rural workers to use their KiwiSaver to buy their first farm. These reforms acknowledge the unique way in which farms are owned and operated in New Zealand.

For many in the rural sector, particularly sharemilkers, contract milkers and farm managers eager to climb the property ladder, this represents a meaningful step toward farm ownership.

Legislation giving effect to these changes will be introduced to Parliament in the middle of the year.

Key changes

Until now, KiwiSaver first-home withdrawals have been limited to residential property purchases, with strict requirements that the buyer both owns and lives in the home. This has created barriers for those pursuing farm ownership, as farms are often:

Purchased through companies or trusts, rather than in an individual’s name, and
Used as both a business and a place of residence, sometimes with accommodation arrangements tied to employment.

The upcoming changes are designed to address these challenges by allowing eligible KiwiSaver members to withdraw their funds to buy a first farm, even where the ownership structure is more complex.

Who can benefit?

The updated rules will apply to people who would ordinarily qualify for KiwiSaver first-home withdrawal, who have contributed to KiwiSaver for at least three years and not previously owned a home (or being approved as a ‘second chance’ buyer). The changes are aimed at first-time farm buyers, not those expanding existing farming operations.

Key conditions

While the rules are becoming more flexible, there are still some important conditions for first-time farm buyers:

Control of the farm: You must have a meaningful ownership interest in the entity purchasing the farm (for example, a majority shareholding or controlling interest). This ensures KiwiSaver is being used to support genuine ownership, not passive investment
Connection to the property: The farm must still have a residential element connected to you. While the strict ‘live in the home’ rule is being relaxed, the purchase must still align with the intent of helping you secure your primary place of living and working
First property focus: The withdrawal remains limited to your first property purchase (or equivalent approved situation), and
Standard application process: You will still need to apply through your KiwiSaver provider, providing supporting documents such as a signed sale and purchase agreement and statutory declarations.

Why this matters for farmers

For many in the dairy and wider farming sector, progressing from employment or sharemilking into ownership has always required significant capital. KiwiSaver is often one of the few accumulated assets available to younger farmers. By allowing KiwiSaver funds to be used in farm purchases — and recognising company and trust structures – the law is now better aligned with how farming businesses actually operate.

This change is expected to improve access to deposits for first-time farm buyers, support succession planning within the rural sector and help younger farmers transition into ownership earlier.

Considerations before proceeding

While the changes are positive, there is still some complexity involved. Before relying on KiwiSaver funds for a farm purchase, it is important to consider:

How the farm purchase will be legally structured
Whether your level of ownership meets the control requirements
The impact on lending and finance arrangements, and
Ensuring your application meets your KiwiSaver provider’s requirements.

We recommend you seek legal and financial advice early in the process; this will help ensure everything is set up correctly from the outset.

Final thoughts

These reforms mark a practical and long-overdue shift in KiwiSaver policy. By acknowledging that farms are both homes and businesses, the government will create a more realistic pathway for rural New Zealanders to enter farm ownership.

With the changes in the legislative pipeline, if you are considering farm ownership, now is a good time to start planning and take advice on how best to position yourself.

DISCLAIMER: All the information published in Rural eSpeaking is true and accurate to the best of the authors’ knowledge. It should not be a substitute for legal advice. No liability is assumed by the authors or publisher for losses suffered by any person or organisation relying directly or indirectly on this newsletter. Views expressed are those of individual authors, and do not necessarily reflect the view of Edmonds Judd. Articles appearing in Rural eSpeaking may be reproduced with prior approval from the editor and credit given to the source.
Content Copyright © NZ LAW Limited, 2026. Editor: Adrienne Olsen. E-mail: [email protected] Ph: 029 286 3650

Postscript

May 4, 2026

Banking & Finance, Business Guidance, Community & Lifestyle, Resource Management, Resource Management Reform

As many of you will know, the government has proposed changes to the 35-year-old Resource Management Act.

Rather than tweaking the existing legislation, the government has proposed an entirely new approach to development and environment protection with two new core pieces of legislation: the Planning Bill and the Natural Environment Bill.

Submissions to the select committee on both bills closed on Friday, 13 February.

The select committee is currently reviewing the submissions; the new legislation is expected to be enacted by mid-2026.

DISCLAIMER: All the information published in Fineprint is true and accurate to the best of the authors’ knowledge. It should not be a substitute for legal advice. No liability is assumed by the authors or publisher for losses suffered by any person or organisation relying directly or indirectly on this newsletter. Views expressed are those of individual authors, and do not necessarily reflect the view of Edmonds Judd. Articles appearing in Fineprint may be reproduced with prior approval from the editor and credit given to the source.
Copyright, NZ LAW Limited, 2025. Editor: Adrienne Olsen. E-mail: [email protected] Ph: 029 286 3650

Options to buy a property during a cost of living crisis

April 9, 2026

Banking & Finance, Property Law, Relationship Property, Wealth & Asset Planning

While the property market has settled somewhat after the Covid boom, house prices in New Zealand are still high. For many, buying a home on your own is no longer viable. It is becoming necessary to consider alternative structures to help make buying a property more affordable.

Borrowing from parents

It is not a new concept, but the rise of house prices in New Zealand has meant that it is very difficult to buy a home without some extra financial help from mum and dad.

If this seems to be a realistic plan, it is important that both you and your parents get separate advice on how this could be structured.

Loans are an effective way for parents to help their children buy a home, without exposing those funds to relationship property losses. Lenders will often want money from parents to be a gift as part of a purchase. However, careful advice and structuring of money from the bank of mum and dad can mean that parents can provide financial assistance without fear of losing half of their money if a child and their partner separate.

It is possible for parental loans and bank loans to both exist in harmony provided you seek the right advice up front. You want to ensure all parties are protected before taking that first step to buy a property.

Co-ownership

Owning a home with a friend or relative to alleviate the rising costs is becoming a more common way for Kiwis to get onto the property ladder.

An important step to include as part of entering into co-ownership arrangements is to set out and define both parties’ understanding and expectations in respect of the property expenses, each party’s initial contributions and what happens if one of you dies, or wants or needs to sell their share.

These considerations are typically set out in what is called a property sharing agreement. Again, good advice before you buy a property with a friend or family member and a comprehensive property sharing agreement will help both parties understand their own rights and obligations before it is too late. As well, it assists to preserve whatever relationship you have with your co-owner if you do decide to go your separate ways.

Property sharing agreements can cover a range of co-ownership relationships from parent/child, siblings, other more remote family relationships or friends. Co-ownership in a de facto or spousal relationship, however, requires different specialist advice. Before you dive into buying a property with your friend, speak to us about ensuring both parties are protected and go into the venture fully aware of what you are getting into.

Iwi schemes

There are now a range of iwi schemes available for Māori to enter into shared equity ownership with either a scheme provider or their local iwi.

The criteria to qualify for these schemes differs depending on the scheme, but usually these are predominantly based on whether or not your whakapapa to a particular iwi, along with requiring some financial assistance to buy your first home.

The iwi or scheme provider buys a share of the property with you on specifically drafted terms that govern your shared ownership. These also usually include a timeframe in which you are meant to buy out the iwi or scheme provider from the shared equity arrangement, ultimately resulting in you owning your own property.

Other schemes with a wider base or catchment may assist members from a region or iwi or locality.

Understanding the criteria to apply and/or the rules that govern any iwi-based shared equity schemes are important. Be sure to contact us for advice on how the scheme that you qualify for works and what you have to do to keep to your side of the deal.

DISCLAIMER: All the information published in Property Speaking is true and accurate to the best of the authors’ knowledge. It should not be a substitute for legal advice. No liability is assumed by the authors or publisher for losses suffered by any person or organisation relying directly or indirectly on this newsletter. Views expressed are those of individual authors, and do not necessarily reflect the view of Edmonds Judd. Articles appearing in Property Speaking may be reproduced with prior approval from the editor and credit given to the source.
Content Copyright © NZ LAW Limited, 2026. Editor: Adrienne Olsen. E-mail: [email protected] Ph: 029 286 3650

Consumer Data Right

July 28, 2025

Banking & Finance, Consumer Rights, Data Privacy & Protection, Legislation & Reform, Technology & Innovation

The age of open banking and beyond

Every day, banks and electricity providers collect vast amounts of data about us. Although this data serves these businesses exceptionally well, its utility extends far beyond their immediate uses. Yet, our ability to share and integrate this data with third parties has been limited – until now.

The Consumer Data Right (CDR) was established on 31 March 2025 under the Consumer and Product Data Act 2025. It is a framework for consumers to securely and efficiently access and share their data with trusted third parties. The CDR aims to bolster an individual’s control over their data as well as to increase competition and innovation across various industries.

Sector-by-sector approach

Not all sectors will be subject to the CDR. Instead, sectors will be designated individually. Banking is scheduled to become the first designated sector, with regulations for the four largest banks (ANZ, Westpac, BNZ and ASB) expected to come into effect by the end of 2025. Discussions are also underway to expand the CDR to the electricity, telecommunications and insurance sectors.

How it works

Once sector-specific regulations are in place, individuals may request the transfer of their data to accredited third parties under this framework. It even allows these accredited third parties to make such requests on behalf of the customer (with their authorisation). Businesses that come under this scheme are obligated to fulfil these requests. This includes providing access to some of their own product-related data and performing certain requested actions, such as closing accounts.

Preparing for accreditation

Accredited third parties must meet strict security requirements set by the Ministry of Business, Innovation, and Employment (MBIE). MBIE’s accreditation process is expected to include information security standards and data storage protocols. Businesses seeking accreditation as third parties within these sectors should begin assessing their security policies and data-handling practices while we wait for further direction.

Impact on businesses and consumers

Historically, access to this data has been in formats and mediums that are not portable. By ensuring that accredited third parties can directly obtain data that is readily integrated with their own services, it is hoped that the CDR will create a seamless experience for us – the customer.

With respect to the banking sector, the CDR could streamline moving banks, allow mortgage brokers to find better lending terms, and foster new and innovative services around budgeting or financial planning.

We will have to wait for the roll-out of these sector-specific regulations to get the full details as to how the CDR will work in practice. As regulations begin to roll out, businesses and consumers alike will need to stay informed about their rights and responsibilities under this transformative legislation.

DISCLAIMER: All the information published in Property Speaking is true and accurate to the best of the authors’ knowledge. It should not be a substitute for legal advice. No liability is assumed by the authors or publisher for losses suffered by any person or organisation relying directly or indirectly on this newsletter. Views expressed are those of individual authors, and do not necessarily reflect the view of Edmonds Judd. Articles appearing in Property Speaking may be reproduced with prior approval from the editor and credit given to the source.
Copyright, NZ LAW Limited, 2022. Editor: Adrienne Olsen. E-mail: [email protected]. Ph: 029 286 3650

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