Income stream: superannuation money deductible amount Petra is 59 years old and has $700,000 in superannuation money.

d. Income stream: superannuation money deductible amount Petra is 59 years old and has $700,000 in superannuation money. This includes a tax free component of $200,000 and a taxed superannuation component of $500,000. Petra takes her $700,000 to an income-stream provider and the provider agrees to pay her $54,322 p.a. for the next 25 years. What will be Petra’s assessable income for tax purposes? Will Petra is entitled to a tax rebate?