question archive You have been provided with the following benefit which is split between tax-free and taxable
You have been provided with the following benefit which is split between tax-free and taxable
Subject:AccountingPrice: Bought3
You have been provided with the following benefit which is split between tax-free and taxable. Your client will be withdrawing annual pension payments from his retirement phase income stream account which amount to $30,000. Complete the missing sections in the table to show the different tax affect this year, when the client is 59 years old, compared with the following financial year when the client is aged 60. The client's Marginal Tax rate is 37% + Medicare levy, (total of 39%). TOTAL RETIREMENT PENSIONPENSION PENSION BENEFIT WITHDRAWAL WITHDRAWAL TAX WITHDRAWAL AGE 59 TAX AGE 60 $225,000 tax-free component $525,000 taxable* component $750,000 "taxed element Do not enter a dollar sign '$',a comma ",' or plus or minus sign or you may see a warning. Check
