Question: Dennis has decided that in order to maintain his current lifestyle, he would need to draw $60,000 annually from his account-based pension. Assume that dennis'

Dennis has decided that in order to maintain his current lifestyle, he would need to draw $60,000 annually from his account-based pension. Assume that dennis' account balance is $500,000 at retirement and that $200,000 is tax free.

What % of dennis' pension payment would be tax free?
How much of dennis' $60,000 pension will be assessable income?

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