Rachel would also like to retire as soon as possible. Her birth date is the 3rd of September, 1963. Rachel has a mix of super benefits from her changing careers a number of times over her life. At the time of her retirement, she will have the following estimated balances:

• Her balance in the SMSF will be $400,000, of which $80,000 is tax free.
• She also has a separate super account in a public sector fund which has a balance of $100,000 which is all untaxed super.

1. What is rachels preservation age?
2. Assuming she retires at her preservation age and withdraws her entire benefit from both funds, how much tax would she pay? (not including Medicare levy)
3. How much Medicare levy would she pay?
4. Rachel would like to avoid paying tax on her super before reaching 60. What % of her SMSF balance is tax free?
5. Utilising the 20-21 low rate cap, how much can rachel withdraw just from her SMSF balance without paying tax?

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