FINANCIAL PLANNING RATE AND TABLE 2011

Transitionalcapof50000forindividualsaged50oraboveto30j

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Unformatted text preview: Sum 60 and over Tax‐free Preservation age to age 59 Not payable on amounts below the low‐cap rate of $165,000 Taxed at 15% on amounts above $165,000 Under preservation age Taxed at 20% SUPERANNUATION CONTRIBUTIONS Superannuation contributions caps Contributions cap type Concessional contributions cap Non‐concessional contributions cap Income stream Tax‐free Marginal tax rates apply (15% tax offset) Marginal tax rates apply (no tax offset) Amount $25,0004 $150,000 4. Transitional cap of $50,000 for individuals aged 50 or above to 30 June 2012 Government co­contributions5(from 2009/10) Lower income threshold Higher income threshold $31,920 $61,920 5. The maximum co‐contribution of $1,000 is reduce...
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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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