Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answers? Toylor is not drawing ary arrount from the superannuation fund. His investments in cash management earn 2%, equity portfolis 7 K, bank saving aceount
answers?
Toylor is not drawing ary arrount from the superannuation fund. His investments in cash management earn 2%, equity portfolis 7 K, bank saving aceount 3 K, and maraged funds 5\%. On 1 August 2019 , he decided to gift one of his reiatives $9,000. Taylor has come to see you for advice on 3 August 2019 for his Age Pension entitlement. Note: To scive this question, vou are required to use the ape pension rates provided in the 'Formsulae and additional information' sheet available on the Moodle page. Required: a) Calculate Taylor's assessable assets and financialassets ( 9 marks) b) Calculate Tayicris Age Pension entriement. (6 marks) c) Discuss with Taylor the impact of the giting or deprivation rules in the determination of a calculation for the Age Pension. Do you think Taylor can use the gifteng rule to increase his age pension entitlement? Prowde the reasoning for your answer. (4 marks) d) Eriefiy discuss the impoct of an aging population and low wock naricipation rate on the social security system in Australia? What ara the alternative strateges a persen can save for retirement infet (3 marks ) Toylor is not drawing ary arrount from the superannuation fund. His investments in cash management earn 2%, equity portfolis 7 K, bank saving aceount 3 K, and maraged funds 5\%. On 1 August 2019 , he decided to gift one of his reiatives $9,000. Taylor has come to see you for advice on 3 August 2019 for his Age Pension entitlement. Note: To scive this question, vou are required to use the ape pension rates provided in the 'Formsulae and additional information' sheet available on the Moodle page. Required: a) Calculate Taylor's assessable assets and financialassets ( 9 marks) b) Calculate Tayicris Age Pension entriement. (6 marks) c) Discuss with Taylor the impact of the giting or deprivation rules in the determination of a calculation for the Age Pension. Do you think Taylor can use the gifteng rule to increase his age pension entitlement? Prowde the reasoning for your answer. (4 marks) d) Eriefiy discuss the impoct of an aging population and low wock naricipation rate on the social security system in Australia? What ara the alternative strateges a persen can save for retirement infet (3 marks ) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started