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How much tax would the fund deduct before paying the benefit

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Reference no: EM132757293

Problem 1: Nicholas has a superannuation balance of $490000, comprising of a tax-free component of $100000, and a taxable component (taxed element) of $390000. Upon death, 100% of his benefit is payable to his son Nick, who is aged 28 and not a tax dependant. How much tax would the fund deduct before paying the benefit to Nick?

Select one:

a. $Nil
b. $83300.00
c. $66300.00
d. $58500.00

 

Reference no: EM132757293

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