Steve (58) receives a lump sum benefit from his taxed super fund of $400,000. Steves...
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Steve (58) receives a lump sum benefit from his taxed super fund of $400,000. Steves fund is 65% taxable component and he has made no previous withdrawals from super. How much tax will Steve pay on his benefit (excluding Medicare levy)?
A. $39,000 B. $12,750 C. $34,500 D. $0
The answer says its B but can you provide process to solution please? Thank you
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