DFRDB saw some evidence of past pay Levels, and they fixed up the hole in my DFRDB, and finally paid up the mistakes back to 1979!!! HOWEVER, The ATO taxed me about 48% on the settlement... whereas if I had been paid YEARLY I would barely have paid 5% owing to fact that my pension was TAX-EXEMPT, and the DFRDB only slightly above the ongoing TAX THRESHOLDS! I think people should KNOW about this method of taxing old diggers DFRDB settlements! It seems to have happened AFTER the Govt started the subsidised superannuation scheme...And now are clawing BACK on the subsidy, and also affecting pre-subsidy recipients? (like many of us were).
Posted on: Tue, 07 Oct 2014 09:48:29 +0000
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