Reference no: EM13834635

Case Study: The Sandra and Henry Blake.

Question 1

Sandra asks,

‘What are our options for accessing our superannuation if we are still working?'

Sandra comments,

‘We would also like the flexibility of being able to take a lump sum now or in the future'.

Question 2

Sandra then asks,

‘How much can we take out of our superannuation to supplement our income?'

‘What is the difference if we take our superannuation as an income stream or lump sum?'

Question 3

Henry asks,

‘As I understand it, if we are able to withdraw our funds from superannuation we will be heavily taxed. What are the tax implications for Sandra and I for receiving a one off payment?'

Question 4

Sandra asks,

‘If Henry and I both commence income streams why are they different in the amounts of income we can receive and the tax payable?'

Question 5

Henry has noticed on his and Sandra's superannuation statements that they have taxable and tax-free components. Henry asks,

‘If Sandra and I can take any amounts from our superannuation from the tax free portions, and not pay tax on them, what happens to the taxable portions'.

Question 6

Henry asks,

‘If we are able commence an income stream part way through the year how does the minimum income stream amount work?'

Attachment:- The Sandra and Henry Blake case study.docx