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Jody is age 69 and retired from the workforce. She holds part of her superannuation balance in the accumulation phase. For the current financial year her investments have produced income returns of $12500 and capital returns of $14000. The assets that produced the capital returns were owned by the fund for a period greater than 12 months.
Problem 1: How much earnings tax would apply to the total returns?
Select one:
a. $3975.00b. $3275c. $2650d. Earnings tax does not apply as Jody is retired.
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