Amy, 55, owns a $840,000 superannuation interest in a lump sum. The interest is split into two parts: a tax-free portion of $168,000 and a taxable element of $672,000. If her marriage falls apart, she and her husband Con will split the cash 50/50. NimiConsh, who is 58 years old and has been retired for a long time, wants to cash in his entitlements.

 

a) Calculate how much tax Nimish will have to pay if he fully cashes his portion of the superannuation.

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