Can government fix it

Submitted by (@moderatorboardoftaxationsecretariat)

Treatment and remediation of excess super contributions

The Board has received the following suggestion during the course of its consultations. The existing process for the treatment and remediation of excess superannuation contributions is unfair and overly bureaucratic. Many directors with contributions multiple organisations and death and disability insurance find it difficult to comply with the existing caps. Where they don't they are required to be advised by the ...more »

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Can government fix it

Submitted by (@moderatorboardoftaxationsecretariat)

Excess Superannuation Tax

The Board has received the following suggestion during the course of its consultations. The current provisions around excess superannuation tax are bureaucratic and cumbersome especially for non-executive directors with the decision to include death and disability insurance in the superannuation contributions cap. Many persons will inevitably be in breach of the cap, especially those receiving multiple group certificates. ...more »

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Can government fix it

Submitted by (@pauldrum)

Superannuation and income tax - moving to an EET model

Superannuation is the primary retirement savings vehicle for the majority of Australians, so it is appropriate that tax concessions are used as a policy lever to provide an incentive, encourage desired behaviour and compensate individuals for locking their savings away in the superannuation system. However, there has been considerable public debate in recent times about the quantum, distribution and equity of the tax ...more »

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