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2) Regarding Inders Termination payment & Superannuation Inder currently has superannuation valued at $582,000 with the Suncorp (complying Super fund). The total amount includes the
2) Regarding Inders Termination payment & Superannuation
Inder currently has superannuation valued at $582,000 with the Suncorp (complying Super fund).
The total amount includes the following elements;
Tax free component $25,000
Element untaxed in the fund $207,000
Element taxed in the fund $350,000
Required: Advise him what would be the tax consequences of withdrawing his super prior to his retirement age, including all options available to him.
Please show all the calculations and workings done as well for the answer.
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