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Showing 1 - 10 of 47 results for "ATO data"

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... the accumulation of savings for women during periods when they work part-time and undertake caring responsibilities. ATO data shows there is a significant overlap with this group and LISTO eligibility," the SMC said. The two reforms can boost the super ...

Farmers distressed by superannuation tax overhaul

ANDREW MCKEAN  |  THURSDAY, 5 OCT 2023
... assets in the future. The government claims the reforms will impact just 0.5% of superannuation account holders; however, ATO data suggests non-indexation might result in approximately 500,000 Australians exceeding the cap in their lifetime. "The proposed ...

Young Aussies flock to SMSFs

KARREN VERGARA  |  THURSDAY, 14 SEP 2023
... fund establishments in the 2023 financial year. Baby Boomers, aged 57 to 71, account for 21.3% of establishments. Citing ATO data, the median age of members for all newly established funds was 46 years old in FY21, which has reduced from 54.1 years old ...

NowInfinity bolsters estate planning capabilities

CASSANDRA BALDINI  |  TUESDAY, 12 SEP 2023
... them to easily keep their SMSF deeds and investment strategies up to date and compliant." NowInfinity flagged recent ATO data that shows28% of all SMSFs are established on its platform.

High super balance tax needs work: Podcast

CASSANDRA BALDINI  |  THURSDAY, 11 MAY 2023
... problematic." Hutton isn't the only one who shares this view. Earlier in the year Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime. It found some 500,000 individuals ...

Labor cracks down on unpaid super

ANDREW MCKEAN  |  TUESDAY, 9 MAY 2023
... But, the non-indexation of the $3 million superannuation cap could eventually impact around 500,000 people, according to ATO data.

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
... significant number of Australians breaching the $3 million cap in their lifetime, affecting around 500,000 people, as per ATO data. Further, Rainmaker Information research indicates that the $3 million superannuation cap would affect approximately $410 ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... consequences of an unindexed cap. As previously reported by Financial Standard, a Financial Services Council analysis of ATO data revealed that if the government's $3 million super cap isn't indexed, around 500,000 individuals currently saving ...

Unindexed cap forecast to impact 500k people

CASSANDRA BALDINI  |  FRIDAY, 3 MAR 2023
... individuals who are currently saving for retirement or have already retired. Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime and face a 30% earnings tax. ...

Are Australia's wealthiest tight-fisted?

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
... found giving by those in the Financial Review Philanthropy 50 list for 2022 had decreased 2.3% on the previous year. ATO data analysed in the report showed only 2% of top income earners gave a higher proportion of their income than people in lower income ...
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