From 1 July 2012, Division 293 tax will be applied to certain superannuation contributions to reduce the concessional tax treatment
Read MoreRefund option for excess super contributions
The refund option for excess superannuation concessional contributions up to $10,000 has now been passed as law.
As a result, eligible
Read MoreObligations & responsibilities for SMSF Trustees
On 7 August 2012, the following measures were introduced as prescribed operating standards – meaning
that they must be complied with at
Read MoreSelf Managed Superannuation Funds Ruling SMSFR 2012/1 – Limited Recourse Borrowing Arrangements (LRBAs)
The ATO have issued the final SMSF Ruling on LRBAs for SMSFs.
The ruling explains the application of key concepts for
Read MoreChanges to tax on employment termination payments (ETPs)
As announced in the 2012 Federal Budget, as of 1 July 2012, the Government proposes that current ETP
tax concessions only apply
Read MoreSuperannuation contributions tax to double to 30% for high income earners
In the 2012 Federal Budget, the Government announced an increase in contributions tax from 15% to
30% on concessional contributions for individuals
Read MoreDeferral of higher concessional contributions cap for individuals aged 50 and over
As at 1 July 2012, all individuals have a cap of $25,000 for all concessional superannuation contributions.
Previously people over 50
Read MoreReduction in minimum payments for account based pensions
The government has extended the reduction in the minimum payment for pensions from superannuation
accounts by 25% for 2012-13.
Pension drawdown relief
Read MoreSuperannuation trust deed clauses
The government will be introducing measures to ensure trust deed clauses cannot be used to alter the (more…)
Read MoreSuperannuation guarantee age limit – to be removed
While there has been some confusion about this measure, the government has confirmed that as of 1 July (more…)
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