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Compute how much earnings tax apply to total returns

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Reference no: EM132757470

Problem 1: Valentina is age 45 and her superannuation balance is in the accumulation phase. For the current financial year her investments have produced income returns of $7600 and capital returns of $8000. The assets that produced the capital returns were owned by the fund for a period greater than 12 months. How much earnings tax would apply to the total returns?

Select one:

a. $2340.00
b. $1940
c. $1560
d. Earnings tax does not apply in the accumulation phase.

Reference no: EM132757470

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