Reitrement Commission: 'Taxing high earning superannuitants more has merit'

A special tax scale for those aged over 65 could help claw back NZ Superannuation from high income earners.

It comes from a report on the sustainability of NZ Super prepared for the Review team by Susan St John and Claire Dale of Auckland University’s Retirement Policy and Research Centre.

One scenario would see a tax rate of 39% imposed, whereby the Superannuitant would have to earn $123,000 before the “break even” point was reached. 

Interim Retirement Commissioner Peter Cordtz told Simon and Phil St John and Dale’s suggestions were worthy of consideration.