Tax System Improvement

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 »

Submitted by (@pauldrum)
1 comment

Voting

1 vote
1 up votes
0 down votes

Tax System Improvement

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 »

Submitted by (@moderatorboardoftaxationsecretariat)
Add your comment

Voting

1 vote
1 up votes
0 down votes