FINANCIAL PLANNING RATE AND TABLE 2011

Medicarelevy15isaddedtotheapplicabletaxrate

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Unformatted text preview: p MRT • 55 and above - up to $160,000 – taxed at 15% - $160,000 ‐ $1,000,000 – taxed at 30% - over $1,000,000 – taxed at top MRT 2. Medicare levy (1.5%) is added to the applicable tax rate. Death Benefit Employment Termination Payments Component Tax treatment3 Tax‐free Tax‐free component Taxable component • Payment to a dependant - up to $165,000 – tax‐free - over $165,000 – taxed at top MRT • Payment to a non­dependant - up to $165,000 – taxed at 30% - over $165,000 – taxed at top MRT • Payment to a trustee of deceased estate - taxed in the hands of the...
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