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Topic # 127154 1-Aug-2013 08:26
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Not sure if this has been posted but you can now transfer your Super to your Kiwisaver - http://tvnz.co.nz/national-news/kiwis-can-finally-transfer-their-super-australia-5453024.

What do you guys think about this? Which scheme would you rather that your money lied with?

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  Reply # 869712 1-Aug-2013 08:52
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Get some proper financial advice regarding this as there are many factors to weigh up when determining whether to bring your Aussie super home, 

The details of your personal situation (how much is in you Aussie scheme,what its fees are, how much you earn in NZ, what you want to use the money for etc) all have a very direct impact, for example super schemes in OZ are subject to a flat 15% tax, whereas in NZ the tax rate you pay depends on you own income , up to 30%,

Also you cannot use any Aussis super transferred as part of the "home deposit" scheme,


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  Reply # 869746 1-Aug-2013 09:55
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wellygary: Get some proper financial advice


Yep, good advice is damn useful, especially when the amounts are reasonable or large.  Compounding interest can have a material effect on the final balance and tax is definitely something to consider, as is the security of funds by way of diversity (eggs/basket and all that).

Kiwisaver shouldn't be the only way we prepare ourselves for retirement, unfortunately I'm sure it will be the only option for some people due to the sheer expense of living costs vs their income. 

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  Reply # 869778 1-Aug-2013 10:56
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