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Hi John.No tax on the $1.8M as it it was grown from the $1.6M...

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ejd99

1,552 Posts.

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26/05/19

10:10

Post #: 38746935
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Originally posted by johnpssmith: ↑

Thanks all for your replies. To follow further with a summary of replies to reinforce my understanding, if my balance was 1.6m at 60 and earning 6%, and I continue to withdraw 4% at 64, I could be withdrawing 4% of 1.8m. And the approx 200k over the 1.6m cap incurs the 15% tax on earnings whereas the earnings on the original 1.6m does not. Is this paraphrased correctly?

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Hi John.

No tax on the $1.8M as it it was grown from the $1.6M whilst in the pension account.
Enjoy your retirement - I am.

Regards,

ej
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