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Rahul is 61 years old and has retired. Since 1 August 2016, he has been receiving a lifetime pension from his taxed defined benefit scheme.

Rahul is 61 years old and has retired. Since 1 August 2016, he has been receiving a lifetime pension from his taxed defined benefit scheme. In the 2020/21 financial year, he received a pension of $140,000. How is this amount taxed? Would your answer be different if the pension was from an untaxed defined benefit scheme?

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