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Showing 61 - 70 of 248 results for "Superannuation tax"

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... the budget are two key superannuation measures aimed at increasing revenues. The first is to better target superannuation tax concessions, saving over $11.5 billion each year once fully implemented. Tax breaks on super currently cost about $45 billion ...

Grattan finds $14bn savings in super tax break overhaul

KARREN VERGARA  |  MONDAY, 3 APR 2023
... (after-inflation) value will have fallen to $2 million," Grattan said. Conversely, extending the Low-Income Superannuation Tax Offset, which rebates contributions tax paid by low-income earners, to those earning up to $45,000 a year from the current ...

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

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... instead, they could only carry forward this loss to reduce earnings in a future year. Indexation and the super cap Superannuation tax controversies, which include concerns about pension payments and unrealised capital gains, are further complicated by ...

Super tax break crackdown to hit $410bn in savings

ANDREW MCKEAN  |  WEDNESDAY, 1 MAR 2023
... through this measure to address some of the other inequities in the system, such as increasing the low-income superannuation tax offset (LISTO) ceiling to $45,000 a year to ensure low-income workers are not paying more tax on their super than on their ...

Government to double tax for high super balances

ANDREW MCKEAN  |  TUESDAY, 28 FEB 2023
... tax rate of 30%, twice the current 15% rate. According to the latest Tax Expenditures and Insight Statement, superannuation tax breaks, valued at $50 billion a year, mostly go to high income earners. The cost of these concessions is projected to exceed ...

Mercer proposes superannuation tax overhaul

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
Mercer has called for a fairer superannuation tax system, particularly for lower-income earners and women in its pre-budget submission. Mercer's proposed changes aim to improve the fairness of the super tax system, which currently has an inherent bias ...

ISA renews calls for super to be paid with wages

CHLOE WALKER  |  MONDAY, 30 JAN 2023
... government should also pay super on the Commonwealth Paid Parental Leave Scheme and increase the Low-Income Superannuation Tax Offset to account for changes to tax brackets and increases in the super guarantee, it suggested. "Super has been a boon for ...

Treasury working on QAR, super tax concessions

CASSANDRA BALDINI  |  THURSDAY, 19 JAN 2023
... balances with $5 million plus is likely to be only a small fraction. "As result, any move by policymakers to limit superannuation tax concessions to super fund balances less than $5 million will at best only be symbolic. It will impact so few people ...

Government eyes crackdown on super tax concessions

CASSANDRA BALDINI  |  TUESDAY, 8 NOV 2022
... debate including former senior treasury official Mike Callaghan. "Callaghan was quoted over the weekend saying superannuation tax concessions have to be in the national conversation about fiscal sustainability, he's right," Jones said. "The Association ...

Piecemeal super taxes won't fix budget deficit: FSC

ANDREW MCKEAN  |  FRIDAY, 14 OCT 2022
Financial Services Council (FSC) research shows that proposed increases to super taxes will not deliver a sustainable Federal Budget position. The FSC engaged DeltaPearl Partners to perform economic modelling of six possible measures adjusting the current ...