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Showing 51 - 60 of 212 results for "Super tax"

Super funds lobby for super tax reform

KARREN VERGARA  |  WEDNESDAY, 16 AUG 2023
Twelve industry super funds have called on the federal government to urgently reform a superannuation tax offset to prevent low-income workers from being penalised. The group of funds, which include Aware Super, Cbus, HESTA, and AustralianSuper, together ...

Women in Super appoints chair

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2023
... retire on average with one third the super of men." She said the immediate focus for the group is fixing the Low Income Super Tax Offset inequality.

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
The government has commenced consultation on new draft regulations related to the Douglas decision, adding to the regulations introduced to parliament late last year. In November 2022, the government introduced legislation aimed at ensuring no veteran ...

Ad hoc changes to super scare self-funded retirees: ASA

CHLOE WALKER  |  MONDAY, 24 APR 2023
The Australian Shareholders' Association (ASA) has noted several issues it has with the government's super tax concessions proposals, including the taxing of unrealised profits on asset movements and lack of transition period. In its submission, the ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... capped at $20,000 a year, and earnings on balances of over $2 million taxed at 30%. "These changes would better target super tax concessions to their policy purpose, would not change savings behaviour, and would help make the system fairer," Grattan ...

Grattan finds $14bn savings in super tax break overhaul

KARREN VERGARA  |  MONDAY, 3 APR 2023
... adding that it is currently set up as a "a taxpayer-funded inheritance scheme". Grattan calculates that nearly 90% of super tax breaks are enjoyed by the top 20% wealthiest retirees. Super tax breaks amount to about $45 billion per year. The modelling ...

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
The government has opened consultation on its proposal to increase the concessional tax rate for superannuation balances over $3 million. Under the proposal, individuals with super balances over $3 million would see their tax rates on earnings double ...

Chalmers' promise to end super wars foiled by criticism

ANDREW MCKEAN  |  THURSDAY, 2 MAR 2023
Last month, Treasurer Jim Chalmers pledged to end the super wars, but opposition to proposed super tax changes suggest a resolution is unlikely. Opposition leader Peter Dutton stated that he's "dead against" the government's proposed tax changes ...

Super tax break crackdown to hit $410bn in savings

ANDREW MCKEAN  |  WEDNESDAY, 1 MAR 2023
Rainmaker Information estimates the $3 million superannuation cap would impact $410 billion of savings for around 100,000 Australians. Although only a small proportion of Australians hold $3 million or more in superannuation, they own a disproportionately ...

Government introduces gender pay gap bill

ANDREW MCKEAN  |  THURSDAY, 9 FEB 2023
... financial outcomes for women, the government can pay the super guarantee on paid parental leave and increase the low income super tax offset (LISTO). "Paying the super guarantee on paid parental leave, the same way as we do on wages, is one of the ways ...