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Showing 31 - 40 of 212 results for "Super tax"

Chalmers' claims on super tax are 'misleading': SMSFA

MATTHEW WAI  |  FRIDAY, 24 JAN 2025
The SMSF Association (SMSFA) says Treasurer Jim Chalmers' claims that the $3 million superannuation tax followed extensive consultation are misleading, accusing the Treasurer of making several ambiguous statements in defence of the tax. SMSFA chief ...

$3m super tax will level playing field: Australia Institute

KARREN VERGARA  |  TUESDAY, 21 JAN 2025
Laws that will double the tax on earnings of superannuation balances over $3 million, which were shelved in late 2024, will make the system fairer particularly as many are doing it tough, The Australia Institute says. The Australia Institute chief economist ...

Treasury flags $23bn in CGT benefits

ELIZA BAVIN  |  WEDNESDAY, 18 DEC 2024
... have some unfinished business when it comes to some of the tax measures that we've already announced, multinationals, super tax concessions and the like and that's our focus."

$3m super tax faces axe, pushed to 2025

MATTHEW WAI  |  MONDAY, 2 DEC 2024
The failure of the government to pass its proposed $3 million superannuation tax last week may well see the measure abandoned. The Division 296 tax could be shelved until after the next federal election, missing out on the opportunity to pass during ...

$3m super tax faces uncertain future

ELIZA BAVIN  |  TUESDAY, 26 NOV 2024
... also welcomed the reports, saying the legislation would double the taxation on some super members. "The Division 296 super tax is hugely unpopular, not simply because it increases the tax burden on those with more than $3 million in superannuation, but ...

Liberal MPs slammed for 'dangerous' super policy

ELIZA BAVIN  |  WEDNESDAY, 16 OCT 2024
... no savings," Kowalczyk said. "The lowest paid people in the country continue to be shortchanged with the Low Income Super Tax Offset (LISTO), paying a tax penalty that high income earners are not paying on their Superannuation Guarantee contributions. ...

$3m super tax edges closer to reality

MATTHEW WAI  |  THURSDAY, 10 OCT 2024
The $3 million superannuation tax passed the lower house yesterday afternoon with a majority vote count of 52:9, however attempts to see the tax indexed were shot down. The Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other ...

Super tax concessions cost $54.5bn in lost revenue: Research

ELIZA BAVIN  |  TUESDAY, 11 JUN 2024
... a superannuation tax concession system that disproportionately benefits high-income earners and men. The report said super tax concessions help high income earners avoid tax, exacerbate income and gender inequality, and come at a huge cost in foregone ...

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA). The SMSFA is calling for an amnesty for legacy pensions ...

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
Treasury has released the draft regulations for the superannuation concessions changes set to come into effect FY 2025/26. Stakeholders have been encouraged to submit responses to the draft regulations before 26 April 2024. The bill imposes a tax rate ...