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Question 3 Nikita has reached her preservation of 58 and has decided to retire. She has $400,000 in her superannuation account; tax-free $40,000, balance from

Question 3

Nikita has reached her preservation of 58 and has decided to retire. She has $400,000 in her superannuation account; tax-free $40,000, balance from a taxed source. Nikita has heard that if she withdraws $100,000 and re-contributes the funds withdrawn back into her super this could benefit her non-dependent daughter in terms of minimising tax relative to a future death benefit.

Discuss the tax consequences of Nikita withdrawing $100,000 from her super.

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