Answer to Q-5.7 (Superannuation income stream, over 60 years of age) Note- Please show all workings where necessary and you may use additional space below Please write your workings/explanations and answers in Blue cells Selma Carr (aged 63) Receipt Items "Receipt Amount $" " Write your Reasons or Workings (if applicable)" "Enter receipt amount here $" Superannuation Income Stream (including PAYG tax withheld $6 350) 57,200.00 57,200.00 Interest 4,220.00 4,220.00 Taxable Income 61,420.00 Tax Payable (Refundable) Tax on Taxable Income $ 61420 Add: Medicare Levy (if applicable) 1,228.40 Add: Medicare Levy Surcharge (if applicable) - Less: Tax Offsets (If any) Less: Income Stream Tax Offset Less: Low-income Tax Offset 600.00 Less: Low and Middle Income Tax Offset 675.00 Less: PAYG tax withheld 6,875.00 6,875.00 Tax Payable/(Refundable) 9,378.40 Additional Workings (if any)