Which of the following statements regarding tax of superannuation fund is INCORRECT?Question 15Select one:a.Capital gain tax (CGT) is levied on capital gains and capital gain on assets held for more than 12 months is effectively taxed at 15%.b.Earnings on superannuation balance in the pension fund are not subject to income or capital gain taxc.Superannuation funds are trusts but receive special tax treatments by legislation.d.Superannuation funds pay 15% tax on its income.e.Super funds do not distribute their income or capital to members unless members meet certain age and employment conditions.

Interest and dividends on super fund's investments areA.paid to the employers.B.are kept in a bank account until retirement.C.taxed at 15%.D.regularly paid out to the employees bank account.1 points   QUESTION 8A 2% coupon rate bonds issued in Australia paysA.$1 every six monthsB.$20 once a yearC.$2 once a yearD.$10 every six months1 points   QUESTION 9Which of the following statements is NOT correct?A.Companies in need of funds raise funds by buying financial instruments in the primary market.B.A financial instrument has one issuer but possibly successive owners due to the existence of a secondary market.C.Owners of financial instruments can sell them in the secondary market and the buyer now gets the financial instrument as an asset.D.Issuers of financial instruments sell them to investors in the primary market.1 points   QUESTION 10If you became the owner of an Australian share in the CHESS registry on Wednesday 25th October 2023, it means that:A.your purchase limit order reached the ASX on Monday 23rd October 2023. B.the money for the purchase was transferred on Friday 27th October 2023.C.your purchase order found a match on Wednesday 25th October 2023D.your purchase order found a match on Monday 23rd October 2023.1 points   QUESTION 11A SG contribution by an employer to their employees' super fund account isA.not counted towards the concessional cap.B. subject to a favourable tax rate obtained without any further requirement.C.taken from salary before tax D.tax free.1 points   QUESTION 12Pension age is the age people can A.access their superannuation.B.access their term deposits.C.access the government pension.D.be retired.1 points   QUESTION 13The non-concessional contributions are taxed at ___________________ and their returns are taxed at _______________________.A.15%; 15%B.15%; member's marginal tax rateC.member's marginal tax rate; member's marginal tax rateD.member's marginal tax rate; 15%1 points   QUESTION 14Simple interest rate implies that A.past interest is included in the calculation of the new interest.B.interest is calculated with respect to the initial investmentC.interest rate is variable.D.interest is calculated on an amount that takes into account the previous interest1 points   QUESTION 15You are a returning Afterpay customer who now makes a purchase worth $68 with Afterpay. You fail to pay the first and the last scheduled instalments. Which of the following statements is correct?A.Afterpay will attempt to process the direct debits after the official term of the loan for as long as is needed for you to pay what you owe.B.the fees charged by Afterpay will be $68.C.You will be charged fees for the first missed instalment but not for the next missed instalment.D.you have to repay the loan in three instalments1 points   QUESTION 16(Assuming the past 5 year caps have been entirely used) A voluntary concessional contribution by an employee to their super fund account isA.mandatoryB.taxed at 15% until reaching a total of contributions of $27,500 per financial year.C.taxed at marginal taxation rateD.tax free

Interest and dividends on super fund's investments areA.paid to the employers.B.are reinvested in the account following the account owner's declared investment strategy.C.taxed at 15% if the income was generated on investments bought with concessional contributions.D.regularly paid out to the employees' bank transactional account.

Which of the following statements is correct? A. Superannuation concessional contributions are made exclusively by employees. B. Superannuation Guarantee is paid exclusively by employers. C. Superannuation contributions are all taxed at 15%. D. Superannuation contributions made by employers have to be 10.5% of the employee's earnings.

The Superannuation system in Australia consists of: (a) mandatory Superannuation contributions (b) concessional taxes on Super contributions (c) all of the other answers* (d) concessional taxes on earnings in Super funds

Multiple Choice QuestionWhich of the following statements is true?Multiple choice question.Tax-exempt income is not subject to tax, while tax-deferred income will be taxed at a later date.Tax-derived income is not subject to tax, while tax-deferred income will be taxed at a later date.Tax-exempt income is not subject to tax, while tax-derived income will be taxed at a later date.Tax-deferred income is not subject to tax, while tax-exempt income will be taxed at a later date.