Nicholas has a superannuation balance of $900000, comprising of a tax-free component of $80000, and a taxable component (taxed element) of $820000. Upon death, 100% of his benefit is payable to his son Nick, who is aged 28 and not a tax dependant. Based on the 2019-20 rates, how much tax would the fund deduct before paying the benefit to Nick?

Answer rating: 100% (QA)

jakfree component of S 80000 25 Taxable Component of f 582000 ... View the full answer