Retirement Income Streams

Debbie retires permanently at age 59, and immediately commences an account-based pension with her superannuation balance of $400,000 (includes a tax-free component of $50,000 and a taxed element of $350,000).

1. Calculate the minimum and maximum pension withdrawal she can make.
2. Calculate the net tax payable if she was to withdraw a pension of $20,000 this year.
3. If Debbie decides to withdraw a $250,000 lump sum to repay her mortgage prior to starting the pension, calculate the lump sum tax.