Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Senate votes on super contribution tax rules

Senate votes on super contribution tax rules

Miranda Brownlee
04 March 2015 — 1 minute read

Assistant treasurer Josh Frydenberg has today announced the Senate has passed provisions for the removal of punitive tax rates on excess super contributions.

Mr Frydenberg said the Tax and Superannuation Laws Amendment (2014 Measures No.7) Bill will make the “taxation of excess after-tax superannuation contributions fairer”.

“This honours our election commitment to make sure inadvertent breaches of the non-concessional contributions cap do not incur a disproportionate penalty," he said. 

Advertisement
Advertisement

The minister said the new approach will be fairer to those who make mistakes while discouraging those who embark on aggressive tax planning strategies.

“Passage of this Bill represents another important step towards as a stronger, more sustainable economy and a fairer tax system.”

 

Senate votes on super contribution tax rules
default
smsfadviser logo
join the discussion

When do you plan to undertake the exam under the new adviser education standards?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.