Normal
Courageous as it may seem, I wouldn't be surprised to see more tampering here.Only earnings taxed at marginal rate, not withdrawal of capital.Ie, say at age 60 member has $1m. Through the next year income earnt is $35k dividend plus $15k franking credit. The fund pays no tax, but the member is liable for marginal tax on $50k, say 9k, tax credit for $15k franking credit, they receive a refund of $6k and have paid tax of $9k. They are due to pay $9k tax regardless of how much they take out of Super. Their super balance is $1.035m assuming they take no money out and they can take out as much or as little as they like, there is no benifit in leaving it in Super now apart from asset protection.
Courageous as it may seem, I wouldn't be surprised to see more tampering here.
Only earnings taxed at marginal rate, not withdrawal of capital.
Ie, say at age 60 member has $1m. Through the next year income earnt is $35k dividend plus $15k franking credit. The fund pays no tax, but the member is liable for marginal tax on $50k, say 9k, tax credit for $15k franking credit, they receive a refund of $6k and have paid tax of $9k. They are due to pay $9k tax regardless of how much they take out of Super. Their super balance is $1.035m assuming they take no money out and they can take out as much or as little as they like, there is no benifit in leaving it in Super now apart from asset protection.
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