Could someone please help explain how the answer for b) is $290,323?

Solutions to Revision Questions QUESTION 1 Annabelle is 58 and has the following components in her taxed superannuation fund as at 31 December 2020. = Non-taxable Taxable TOTAL = $280,000 $620,000 $900.000 = (a) Calculate the amount of tax Annabelle would pay if she withdrew all her funds on 2 February 2021 (she is still 58). (b) Calculate the amount Annabelle could withdraw tax free on 2 February 2021. ANSWER (a) Non taxable Taxable TOTAL= $280,000 $620,000 $900.000 (31.11) (68.89) (100.00%) -6206-215K 15%+2% redi care levy Non taxable componence $280,000 Taxable componence $620,000 Nil tax $215,000 is tax free $405,000 x 17% = $68,850 tax payable (b) Annabelle can withdraw $290,323 tax free on 2 February 2021 $215,000 the low cap rate tax free taxable cap Maximum Tax Free Withdrawal = ((Low Rate threshold / Taxable componence ) x Tax Free componence) + Low Rate Threshold = ((($215,000/$620,000)* $280,000) + $215,000)) = 312,097 * OR (($215,000/$620,000)* $900,000) = $312,097 Solutions to Revision Questions QUESTION 1 Annabelle is 58 and has the following components in her taxed superannuation fund as at 31 December 2020. = Non-taxable Taxable TOTAL = $280,000 $620,000 $900.000 = (a) Calculate the amount of tax Annabelle would pay if she withdrew all her funds on 2 February 2021 (she is still 58). (b) Calculate the amount Annabelle could withdraw tax free on 2 February 2021. ANSWER (a) Non taxable Taxable TOTAL= $280,000 $620,000 $900.000 (31.11) (68.89) (100.00%) -6206-215K 15%+2% redi care levy Non taxable componence $280,000 Taxable componence $620,000 Nil tax $215,000 is tax free $405,000 x 17% = $68,850 tax payable (b) Annabelle can withdraw $290,323 tax free on 2 February 2021 $215,000 the low cap rate tax free taxable cap Maximum Tax Free Withdrawal = ((Low Rate threshold / Taxable componence ) x Tax Free componence) + Low Rate Threshold = ((($215,000/$620,000)* $280,000) + $215,000)) = 312,097 * OR (($215,000/$620,000)* $900,000) = $312,097