defer receiving an ETP until the next financial year, where possible. This includes individuals who are eligible for transitional ETPs under $165,000 that they want to take as cash and those who are not eligible for the transitional rules. This is because: Less tax may be paid on amounts that are taxable at marginal rates (such as accrued annual or long service leave) if income from other sources is lower next financial year; New taxable income thresholds and marginal tax rates will come into effect on 1 July that particularly benefit lower income earners; The ETP cap that applies to the taxable component when taken as a lump sum increases from $165,000 to $175,000; and The Flood levy currently payable by people with incomes over $50,000 pa will no longer apply.