Ms Ayumi Sapporo recently retired from her position as head chef of the Red Blossom Japanese restaurant on 12 June 2014. She retired a few weeks before her 60^th birthday (on the 30^th June 2014) to give herself time to organise a large birthday party for which she is expecting guests to arrive from Japan to celebrate with her. Ayumi is wanting to use her retirement funds to provide money to pay for the party as well as to pay-out her home mortgage as well as a car loan and credit card debts that she struggled to meet whilst she was working. In total Ayumi is seeking to withdraw $450,000 on the 29^th June 2014 as a lump sum from her accumulated retirement funds in order to provide for these financial commitments. Ayumi has been provided a statement from the ACME Superannuation Fund calculated to the 29^th June 2014 showing an accumulated retirement funds balance of $850,000 allocated as follows:
$\begin{array} { l r } \text { Tax-free component } & 15 \% \\\text { Taxable (taxed) component } & 60 \% \\\text { Taxable (untaxed) component } & \underline { 25 \% } \\\text { Total } & \underline { 100 \% } \\\hline\end{array}$ Whilst catching a bus home from the market on the 27^th June 2014 where she was starting to buy her supplies for her birthday party, Ayumi heard some people on the bus say that a financial adviser that they had recently had an appointment with had stated that where possible retirees should look to withdraw their retirement funds after they turn age 60 and not before.
Calculate the tax payable by Ayumi if she proceeds with the information given in the question and withdraws $450,000 on the 29^th June 2014 from the ACME Superannuation Fund and the alternative advice she overheard on the bus that recommended leaving the withdrawal of the designated retirement funds until at least the 30^th June 2014. Briefly comment on the calculated outcomes. Note: Assume that the total balance of Ayumi's retirement funds of $850,000 and the allocations previously provided do not change.

Question

Ms Ayumi Sapporo recently retired from her position as head chef of the Red Blossom Japanese restaurant on 12 June 2014. She retired a few weeks before her 60^th birthday (on the 30^th June 2014) to give herself time to organise a large birthday party for which she is expecting guests to arrive from Japan to celebrate with her. Ayumi is wanting to use her retirement funds to provide money to pay for the party as well as to pay-out her home mortgage as well as a car loan and credit card debts that she struggled to meet whilst she was working. In total Ayumi is seeking to withdraw $450,000 on the 29^th June 2014 as a lump sum from her accumulated retirement funds in order to provide for these financial commitments. Ayumi has been provided a statement from the ACME Superannuation Fund calculated to the 29^th June 2014 showing an accumulated retirement funds balance of $850,000 allocated as follows:

\begin{array} { l r } \text { Tax-free component } & 15 \% \\\text { Taxable (taxed) component } & 60 \% \\\text { Taxable (untaxed) component } & \underline { 25 \% } \\\text { Total } & \underline { 100 \% } \\\hline\end{array}

Whilst catching a bus home from the market on the 27^th June 2014 where she was starting to buy her supplies for her birthday party, Ayumi heard some people on the bus say that a financial adviser that they had recently had an appointment with had stated that where possible retirees should look to withdraw their retirement funds after they turn age 60 and not before.
Calculate the tax payable by Ayumi if she proceeds with the information given in the question and withdraws $450,000 on the 29^th June 2014 from the ACME Superannuation Fund and the alternative advice she overheard on the bus that recommended leaving the withdrawal of the designated retirement funds until at least the 30^th June 2014. Briefly comment on the calculated outcomes. Note: Assume that the total balance of Ayumi's retirement funds of $850,000 and the allocations previously provided do not change.

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The Answer of Ms Ayumi Sapporo recently retired from her position as head chef of the Red Blossom Japanese restaurant on 12 June 2014. She retired a few weeks before her 60^th birthday (on the 30^th June 2014) to give herself time to organise a large birthday party for which she is expecting guests to arrive from Japan to celebrate with her. Ayumi is wanting to use her retirement funds to provide money to pay for the party as well as to pay-out her home mortgage as well as a car loan and credit card debts that she struggled to meet whilst she was working. In total Ayumi is seeking to withdraw $450,000 on the 29^th June 2014 as a lump sum from her accumulated retirement funds in order to provide for these financial commitments. Ayumi has been provided a statement from the ACME Superannuation Fund calculated to the 29^th June 2014 showing an accumulated retirement funds balance of $850,000 allocated as follows: $$\begin{array} { l r } \text { Tax-free component } & 15 \% \ \text { Taxable (taxed) component } & 60 \% \ \text { Taxable (untaxed) component } & \underline { 25 \% } \ \text { Total } & \underline { 100 \% } \ \hline \end{array}$$ Whilst catching a bus home from the market on the 27^th June 2014 where she was starting to buy her supplies for her birthday party, Ayumi heard some people on the bus say that a financial adviser that they had recently had an appointment with had stated that where possible retirees should look to withdraw their retirement funds after they turn age 60 and not before. Calculate the tax payable by Ayumi if she proceeds with the information given in the question and withdraws $450,000 on the 29^th June 2014 from the ACME Superannuation Fund and the alternative advice she overheard on the bus that recommended leaving the withdrawal of the designated retirement funds until at least the 30^th June 2014. Briefly comment on the calculated outcomes. Note: Assume that the total balance of Ayumi's retirement funds of $850,000 and the allocations previously provided do not change.

Ms Ayumi Sapporo Recently Retired from Her Position as Head