“I’m pleased to announce that my member’s bill, which will make it easier for those whose employment contracts include a service tenancy arrangement to buy their first home, has today been placed in the biscuit tin,” says National MP for Rangitīkei Suze Redmayne.

“Current legislation makes it too hard for many farmers, farm workers, military personal and other employees who are provided accommodation as part of their job, to get into the property market. My first members bill, the KiwiSaver (First Home for Farm Land and Service Tenancy Tenants) Amendment Bill aims to support home ownership and even out the playing field.

“The bill essentially makes two changes:

“Firstly, it allows a KiwiSaver member to withdraw funds to buy a farm through an entity they are a majority shareholder in. The current law states a farm must be purchased in their own name – but a farm is usually owned by an entity because it is both a business and a home. This change makes the legislation more practical and applicable to rural situations. It’s about supporting farm ownership and ensuring the future of farming.

“Secondly, the bill exempts those in service tenancies, such as farm workers and many military personnel, from the requirement to live in their first home dwelling for at least six months when they purchase it with their KiwiSaver funds.

“Many farmers and military personal will live in a service tenancy for a large portion of their career, making it difficult for them to get on the property ladder. This change is about creating a level playing field and making it easier for more people to access a first home using their KiwiSaver funds, while also increasing property ownership rates.

“I’m proud to be a member of a party that is backing rural and provincial New Zealand. If the bill is drawn from the ballot (biscuit tin), I look forward to working with my Parliamentary colleagues to pass this important piece of legislation.”

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