Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 91 results for "Loophole"

Superannuation gets another makeover

EMMA RAPAPORT  |  FRIDAY, 15 SEP 2017
... members' money through new reporting of expenses, Annual Member Meetings and a portfolio holdings disclosure regime. A legal loophole being used by some unscrupulous employers to short-change workers of their full superannuation guarantee entitlements ...

Xenophon team introduce unpaid super Bill

KARREN VERGARA  |  MONDAY, 11 SEP 2017
... exempt from paying super to employees earning less than $450 in a calendar month will be removed, along with the current loophole that allows employers to claim contributions via salary-sacrifice. The Bill also proposed "removing restrictions on choice ...

Intervention from trustees can address unpaid super: IFS

EMMA RAPAPORT  |  WEDNESDAY, 6 SEP 2017
... penalties, extending single touch payroll to small business, increased super fund reporting, and legislation to close a legal loophole that currently results in workers who salary sacrifice, missing out on their full super guarantee entitlement. Since ...

Government funds ATO superannuation taskforce

DARREN SNYDER  |  TUESDAY, 29 AUG 2017
... measure would have a significant impact for members." The package builds on legislation already announced to close a legal loophole used by unscrupulous employers to short-change employees who make salary-sacrifice contributions to their superannuation. ...

First home super scheme may not make it to parliament in 2018

EMMA RAPAPORT  |  TUESDAY, 8 AUG 2017
... The First Home Super Saver Scheme (FHSSS), residential downsizing incentives, closing of the superannuation guarantee loophole, and the expansion of choice, consumer power, and increased transparency are nowhere to be seen. The spring sitting session ...

Labor cracks down on discretionary trusts

KARREN VERGARA  |  MONDAY, 31 JUL 2017
Opposition Leader Bill Shorten is cracking down on high-income earners exploiting a trust loophole that minimises tax bills. The Labor leader is pledging to impose a minimum 30% tax rate on the distributions of discretionary trusts to beneficiaries ...

Government cracks down on salary sacrifice loophole

EMMA RAPAPORT  |  FRIDAY, 14 JUL 2017
The Federal Government will take action to close a loophole that allowed employers to short-change employees who chose to make salary sacrifice contributions to their superannuation accounts. The move follows the release of a Superannuation Guarantee ...

Government closes super loophole

EMMA RAPAPORT  |  MONDAY, 10 JUL 2017
A loophole which allowed some superannuants to reduce taxation obligations on their superannuation income stream by electing to treat income as a series of lump sum payments has been closed by the Federal Government. The closure, announced on 3 May ...

LRBA loophole for SMSFs removed

EMMA RAPAPORT  |  THURSDAY, 11 MAY 2017
Self-managed superannuation funds will be prevented from circumventing contributions caps through the use of limited recourse borrowing arrangements under new Budget measures. Announced in the Federal Budget this week, from 1 July 2017, the outstanding ...

Wages and super should be aligned: Cbus

EMMA RAPAPORT  |  TUESDAY, 14 MAR 2017
... those who had experienced unpaid super reported that their issue had not been resolved. Cbus also called for the current loophole that allows salary sacrifice to be counted towards superannuation guarantee compliance to be closed. "We appreciate that ...