Question: how much tax do i pay if i withdraw my super?
Answer: In general, if a member of an untaxed scheme or CPF is over age 60 and withdraws a lump sum, they pay 15% tax on the untaxed component of their super benefit up to the untaxed plan cap ($1.565 million in 2020/21). Any amount over this cap is taxed at the top marginal tax rate (45% in 2020/21) plus the Medicare levy.