Income Account

If a member has an accumulation account after 1 July 2017 and wishes to transfer to an Income Account, what will the maximum transferrable balance be?

$1.0M

$1.3M

$1.6M

$1.9M

A member, aged 58 sets up an Income Account on 1 July 2016 and received income payments of $30,000 as at 30 June 2017. They withdrew no lump sums in the financial year. Their taxable components are 50% tax-free and 50% taxable. What is their remaining Low Rate Cap?

$180,000

$195,000

Unable to tell

A member with an Income Account has $1,000 in Cash, $50,000 in Moderate and $50,000 in Balanced. The member has elected for all of his income payments to be withdrawn from Cash. When his Cash balance is depleted, where will his income payments be drawn from?

Proportionately from his remaining investment options

Moderate

None - we will contact the member before making their next income payment

Income Account

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