Financial Standard Comments - ASFA calls for rethink on contribution caps Government policy on concessional contribution caps is causing significant difficulties to super funds members, according to The Association of Superannuation Funds of Australia. https://www.financialstandard.com.au/feed/latest?story=12329874 Fri, 09 Sep 2011 15:32:23 +1000 Fri, 09 Sep 2011 15:32:23 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by pauls () ONLY $400M !!
The whole of excess contributions tax is atrocious
-the goverment never intended it to happen
Tax must never be used as a defacto penalty
AND what happened to the Non-Concessional excess tax.???
For some reason no one wants to talk about that - much more unjust.
$69,750 extra tax for being 1c over the limit - totally ridiculous and unappealable.
We need our day in court.
Solution:-- allow people to reverse these Contributions. Like the USA and UK
They are mistakes and the ATO should allow corrections.
The Law says so - Restitution of Unjust Enrichment- my barrister says so.

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]]> pauls () Fri, 09 Sep 2011 15:32:23 +1000