FINANCIAL PLANNING RATE AND TABLE 2011

FINANCIAL PLANNING RATE AND TABLE 2011

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Unformatted text preview: r (SISR) (09/10 and 10/11) (11/12) Under 65 4% 2% 3% 65‐74 5% 2.5% 3.75% 75‐79 6% 3% 4.5% 80‐84 7% 3.5% 5.25 85‐89 9% 4.5% 6.75% 90‐94 11% 5.5% 8.25 95 and above 14% 7% 10.5% Taxation of benefits from an untaxed source (2011/12) Age of recipient Lump Sum Income stream 60 and over Taxed at 15% up to the untaxed Taxed at marginal plan cap amount of $1.205 tax rates (10% tax million offset) Excess amount over $1.205 million taxed at top marginal tax rate Preservation age to age 59 Taxed at 15% up to the low‐rate Marginal tax rates cap amount of $165,000 apply (no tax offset) Taxed at 30% between $165,000 and up to $1.205 million Excess amounts over $1.205 million taxed at top marginal tax rate Under preservation age Taxed at 30% up to $1.205 Marginal tax rates million apply (no tax offset) Excess amount over $1.205 million taxed at top MRT Page 2 of 4 Taxation of benefits from a taxed source (2011/12) Age of recipient Lump...
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This note was uploaded on 12/06/2011 for the course AFF 3111 taught by Professor Smith during the Three '08 term at Monash.

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