Wendy was receiving an account-based super income stream (which had a balance of $250,000) from her super fund when she passed away at age 67.

The tax-free proportion of her $250,000 income stream is 25%, with the remaining 75% being the taxable proportion.

 

Wendy's spouse Raffa is her beneficiary, and he decides to take her account balance as a lump sum. Raffa is paid the lump sum in the same proportions of tax-free and taxable components as Wendy's income stream.

 

Questions:

Wendy's spouse Raffa is her beneficiary, and he decides to take her account balance as a lump sum. What type of beneficiary is Raffa under superannuation law?                                                              

Wendy's spouse Raffa is her beneficiary, and he decides to take her account balance as a lump sum. What type of beneficiary is Raffa under tax law?                                                                                     

Calculate Raffa's tax-free and taxable component.

If Raffa was a non-dependent beneficiary under tax law and not her spouse, then what are the tax implications for Raffa?

Answer rating: 100% (QA)

Raffas Beneficiary Type Wendy was receiving an accountbased super income stream at the time of her d... View the full answer