Q2 (Superannuation lump sum, low cap amount) Stan Eckhardt, aged 57, received a superannuation lump sum of $310,000 from his superannuation fund upon retirement on 15 April 2018. PAYG tax of $28,170 was withheld from the lump sum. The lump sum comprised entirely of an element taxed in the fund. Stan also received gross wages of $85,000 up to the date of his retirement. PAYG tax of $22,110 was withheld from Stans wages. Stan has adequate private health insurance.

a) Calculate Stans taxable income for the 2017/18 tax year. Computation of taxable income for 2017-2018 :

This is my answered for part a which is have right answered

Receipt from SuperAnnuation fund = $310,000

Receipt from annual wages = $85,000

Total income for the year 2017-2018= $395,000

Total taxable income for 2017-2018- $ 395,000

Note: In the United States of America Superannuation fund is not tax deductible and hence any receipt from super annuation fund is taxable in the year of receipt.

b) Calculate Stans net tax payable or refundable for the 2017/18 tax year. I need help with this part