The total value of the SMSF's assets is $2 million. The account balances of each of the members are as follows:

• Dennis $400,000
• Carol $300,000
• Isaac $200,000
• Jonas $1,100,000

All members make frequent contributions to the fund.

Jonas has a fiance who lives in the USA and he is planning to permanently move there in a few months.

1. What are the residency requirements would the fund be at risk of breaching?
2. If the fund breached the residency rules, which rate of tax would the fund have to pay?
3. What could the trustees do to avoid breaching the residency rules?
4. Dennis would like to retire next year after he turns 60. What would he meet to satisfy in order to meet a condition of release?
5. Dennis has decided to draw an account-based pension upon retirement. Assuming his balance at retirement is $500,000, what must his minimum pension payment be using the 20-21 rates?