Undergraduate
Essay
Finance & Accounting
Pages 6 (1506 words)
Download 0
Briefly explain what options are available to Jack with respect to the payment he will receive upon termination of his employment, including his superannuation balance. Calculate the resultant tax treatment of the payment with respect to those options.

Introduction

Briefly explain what options are available to Jack with respect to the payment he will receive upon termination of his employment, including his superannuation balance. Calculate the resultant tax treatment of the payment with respect to those options.One of the best options jack could plan is to pay a small amount of future pre-tax salary to the investments. The plan for such investments would also help to pay for personal insurance to protect the family income.During this period Jack would have return of deposits amounting to $ 8000 and the return from superannuation as $ 1350. This could be deposited on long term basis and as the seven years are completed the amount could be added with the Marions return to meet their living expenses.At the present rates both Joe and Marion would require $ 55,000 to lead a very comfortable life. If this is the amount that the couples expect after their retirement then the they must have accumulated saving of $137500 at 4 % interest per annum. Their total savings is estimated as 4,36,000/- which doesn't include the superannuating benefits of both Joe and Morion.Even if these aspects are accounted the current position would be enough if they expect to support in the same manner in future. The cost of living certainly would enhance and hence the gaps that exist between the current estimate and actual expense in future would be very huge.The major benefit of transition to retirement provision is to receive a part of superannuation as pension while being involved with it. ...
Download paper
Not exactly what you need?

Related papers

Individual Project
The officer reached into the car and touched a bugle in the passenger's pocket. He felt a large, hard object, which he believed to be rocks of crack cocaine. He then removed a plastic bag from the pocket. It contained several rocks of crack cocaine that, together with another rock found in the passenger's clothing, totaled almost 100 grams. The passenger was arrested, but the driver and women…
Personal financial planning
Briefly explain what options are available to Jack with respect to the payment he will receive upon termination of his employment, including his superannuation balance. Calculate the resultant tax treatment of the payment with respect to those options.One of the best options jack could plan is to pay a small amount of future pre-tax salary to the investments. The plan for such investments would…
Project Management has become so Financially Sensitive that all Project Managers should be Qualified Accountants.
This essay examines the point that "Whether or not a project manager has to be a qualified accountant"…
Project Planning
It is very important that these items are able to conform to certain quality standards. The client i.e. IRTC cannot take it upon itself to ensure the quality of each and every item. The software, in particular, happens to be the backbone of a reliable computerized billing system. The accuracy, reliability and robustness of such items can be ensured by a reliable vendor only.…
Financial Planning
The role of three companies, like Colonial First State Investments Limited and Professional Investment Services Pty Ltd related to provide financial planning services has been sorted out in the assigned study.…
Personal Development Planning
The idea is to allow a user to do tasks more efficiently, quickly and from any location and eventually letting the virtual office handle the routine chores for us and facilitate interaction with others. In the paragraphs below we will look at some of the functions available in a virtual office.…
Project Planning.
This project plan would help in optimally utilizing the available resources. Designing WBS in a proper fashion will help to understand the cost control techniques and the scheduling techniques that are needed to be adopted to ensure a smooth flow of operations in order to complete the project within the pre-determined time.…