Whānau in Australia

KangarooWhānau in Australia have access to the same benefits Whai Rawa provides to members anywhere and we have already had members in Australia withdrawing for tertiary education, first home purchase and retirement.

Australian Bank Account – pay money into Whai Rawa and pay no transfer fees

Whai Rawa now has an ANZ Australia Whai Rawa Trust account to enable whānau in Australia to more easily save into Whai Rawa without paying any transfer or currency conversion costs. This enables members and whānau to make one off or regular payments online from their Australian bank accounts into Whai Rawa.  We transfer funds from this Australian account into the Whai Rawa Trust New Zealand ANZ bank account on the last day of each month and earnings will accrue on your deposits from the date they are transferred to the NZ account.

The bank account details are available; please click here.

Tax for Australian-based Members

To ensure you recieve the maximum value from your Whai Rawa payments from Te Rūnanga , you need to supply us with a NZ tax number even if you never plan to live in or return to NZ. Find out more.

Australian Dispute Resolution Scheme

As a condition of our operating in Australia we are required by the Australian Securities and Investment Commission (ASIC) to join an Australian dispute resolution scheme. We have chosen to join the Australian Financial Ombudsman’s Dispute Resolution Service. Their contact details are: Ph 1300 78 08 08, 9am – 5pm AEST weekdays. The cost is that of a local rate from landline phones anywhere in Australia. Mobile phones incur standard mobile call rates. Postal address: GPO Box 3, Melbourne VIC 3001.

Australian Address for Service

As an additional condition of our operating in Australia we are required to have an Australian address for service. While we still encourage members to contact us directly for a speedier response, the offices of Norgate McLean Dolphin in Melbourne are available as an Australian address for members to contact us at. That address is: Whai Rawa c/o Norgate McLean Dolphin, Level 6, Rialto Towers, 525 Collins Street, Melbourne VIC 3000.

Transferability from Australian Super Schemes?

Unfortunately because of Whai Rawa’s unique features (tertiary education withdrawals and the ability to transfer between accounts) Whai Rawa is not a complying super scheme and members cannot transfer funds to Whai Rawa from their super scheme in Australia or in NZ.

Other Information for Whai Rawa Members & Prospective Members in Australia

The Whai Rawa offer to Australian investors (‘this offer’) is a recognised offer made under Australian and New Zealand law. In Australia, this is the Corporations Act 2001 and Regulations. In New Zealand, this is Part 5 of the New Zealand Securities Act 1978 and the Securities (Mutual Recognition of Securities Offerings) Regulations 2008.

This offer and the content of the offer documents are principally governed by New Zealand, rather than Australian, law. In the main, the New Zealand Securities Act 1978 and New Zealand Securities Regulations 1983 set out how the offer must be made.

There are differences in how securities and financial products are regulated under New Zealand, as opposed to Australian, law. For example, the disclosure of fees for managed investment schemes is different under New Zealand law.

The rights, remedies and compensation arrangements available to Australian investors in New Zealand securities and financial products may differ from the rights, remedies and compensation arrangements for Australian securities and financial products.

Both the Australian and New Zealand securities regulators have enforcement responsibilities in relation to this offer. Complaints should be directed to Whai Rawa in the first instance. If Whai Rawa is unable to resolve the issue to the satisfaction of the member they should take their complaint to the (Australian) Financial Ombudsman’s Dispute Resolution Service.

The taxation treatment of New Zealand securities and financial products is not the same as that for Australian securities and products.

If you are uncertain about whether this investment is appropriate for you, you should seek the advice of an appropriately qualified financial advisor.

The offer may involve a currency exchange risk. The currency for the security or financial product is in dollars that are not Australian dollars. The value of the security or financial product will go up and down according to changes in the exchange rate between those dollars and Australian dollars. These changes may be significant.

If you receive any payments in relation to the security or financial product that are not in Australian dollars, you may incur significant fees in having the funds credited to a bank account in Australia in Australian dollars.