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Abe is 52 years old and runs an accounting practice. He employs two assistants: Betty...

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Accounting

Abe is 52 years old and runs an accounting practice. He employs two assistants: Betty (aged 30) and Phil (aged 40). Betty is paid an annual salary of $120,000 and Phil is paid an annual salary of$30,000. Abe makes quarterly contributions to their chosen complying superannuation funds of$2,000 and $500 respectively. Discuss the consequences of the contributions

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