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Are you still paying school fees ..... Im going to sit down again to do super projections to see when my super hits $3M.

Rather than give extra to the govt it would be easy to keep it at $3M by retirement by restricting further contributions so that it reaches $3M at retirement or taking out lump sums at retirement and give it to the kids/grandchildren tax free while I'm still alive, even as non concessional...

Assuming that the govt borrowing goes into infrastructure.

It is all related With a lot of assumptions going into that calculation NZ currently in a recession. We are not far behind. There is no reason why values should keep going up and up. Down is also realistic.

The problem is actually a more fundamental issue called housing supply. Taxing retirees wont increase housing supply. Against that the super will have to last 3 decades so that there is no need to make a call on the OAP. There is also as I said a hidden and significant contribution to future...

Im not sure that is the case: Significant Government transfer payments occurs to effectively cover the tax they pay.

Possibly more with the upcoming changes depending on TSB (total super balance) For many, they will need the assistance of Mum and Dad ATM. They won't get their inheritance when M&D passes but a lot earlier. I will be helping out our kids buy their first home with substantial % capital plus...

No not that but Withholding transfer up to the cap in order to benefit from indexation of the unused TBC. The income from the amount of withholding remain taxed while it sits in the accumulation account. I'm not saying there is no benefit but only that it's worth a spreadsheet analysis to see...

QPM up 50% Thanks @cove

Against that withholding from the cap just exposes the remaining balance to taxation in the accumulation account. I would have to spreadsheet the 2 to see whether there are significant differences.

Correct. Existing residents with 100% refundable RAD are grandfathered to 100% . The 90% ones will be grandfathered to that % as well.

Yes but that's of very marginal benefit if at all because a lump sum withdrawal makes that lump sum now taxable - say it goes into an interest earning account outside of super or it can be commuted back to an allocation account. Additionally by deliberately withholding transferring up to the TBC...

Why would it be useful?

Any funds in excess of the $2M TBC(indexed) remains in the accumulation account or you can take it out taxfree and put it in a back account, or under mattress etc. The accumulation account is taxed at 15% currently which is more than pension account, less or more than bank account depending on...

Cynical me says that a lot of those in Treasury are the WFH class not tradies

Yes if zero assets there is only 85% of OAP in NH fees.

Nothing is real unless it is cash

I think you mean the means test fee Correct, but that's when capital gains is realised - when withdrawals are made. People think the super balance is real money. It is not. It is only real when it is withdrawn from the account.

In the end that does not matter how the balance increases in value because when it is in pension phase, regular minimum withdrawals have to be made - at this time capital gains/losses are realised and are added to dividends etc to form the annuity.

Yet the medicare levy remains at 2%.... There is a hidden tax on "self funding retirees" of up to $1500/week when they need aged care. Nursing home: : the people who pay the most at the ones who are not supported by government. My mother paid $900,000 for nursing home accommodation...