Appreciate any validation of my understanding on this one please.
The new surcharge of contributions if total income if above $300k, is an extra 15%.
From an odd piece (can't recall where I read it) income from a super fund is counted in the total income even if over 60 and in pension phase so tax free to the recipient.
So, if one has an earned income of say $100k with compulsory contributions of 9.25% = $9,250, and a super draw of $220k (maybe house renovations etc) then there would be a total of 30% tax to be paid within the super fund.
Any confirmations?
If so, then it is even more important to consider the lump sum option instead of income as per recent confirmation from the ATO.
