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

Search Results

Showing 71 - 80 of 99 results for "contribution caps"

Shorten locks down accountant timeline

ELISE BURGESS  |  MONDAY, 20 FEB 2012
... legislation surrounding the role of accountants in the advice industry, in addition to reaffirming his plans to raise contribution caps. Speaking at the Self-Managed Super Fund Professionals' Association (SPAA) national conference on Friday, Minister ...

Contrib caps improve super social equity

ALEX DUNNIN  |  WEDNESDAY, 15 FEB 2012
Tightening superannuation contribution caps over the past five years have significantly improved superannuation's social equity, claims a new research report from peak superannuation interest group ASFA. The report, the latest superannuation industry ...

New data questions SMSF inflows

ELISE BURGESS  |  MONDAY, 13 FEB 2012
... to make informed decisions on their retirement," said Slattery. "We see no evidence of slowing down, but the contribution caps are affecting the competence of people putting away savings for the future."

Cutting super tax breaks unwise: SPAA

CLAIRE MCGREAL  |  TUESDAY, 7 FEB 2012
... government proposals last year to put in place a maximum fund balance limit of $500,000 in order to access higher contribution caps would make the system significantly more complicated. "It also ignores variations in work and savings patterns of different ...

ASFA calls for rethink on contribution caps

MATT WOODINGTON  |  FRIDAY, 9 SEP 2011
Government policy on concessional contribution caps is causing significant difficulties to super funds members, according to The Association of Superannuation Funds of Australia. In a new submission to the Treasury, ASFA said the halving of concessional ...

Tax strategies from ATO, Cavendish

ELISE BURGESS  |  FRIDAY, 17 JUN 2011
... out its latest technical update discussing its opinions on a number of issues facing the industry including contribution caps, avoiding excess contribution assessments and minimum pension requirements. Of particular note, Cavendish noted that while most ...

Excess contributions penalties soar to $400m

MATT WOODINGTON  |  FRIDAY, 10 JUN 2011
... from 15,000 assessments. Olesen said that the ATO had raised "in the order of $400 million" in total for excess contribution caps from around 40,000 assessments since the tax was introduced. For the 2006-07 year the ATO raised $53 million in liabilities ...

MLC launches contrib. cap tool

... financial years the ATO issued 65,000 letters to the 0.65 per cent of all super fund members who breached their contribution caps. Gemma Dale, head of MLC technical services said, "By breaching these caps Australians now have $180 million less in savings ...

Super on table for October tax review

ALISON BEVEGE  |  MONDAY, 21 MAR 2011
... Assistant Treasurer. "We will continue with our super reforms to increase the super guarantee, deliver larger contribution caps for older Australians and deliver super concessions for the 3.5 million lower-income earners who get little or no concession ...

Super cap breach stings 65,000

ALISON BEVEGE  |  FRIDAY, 4 MAR 2011
... being caught out by Labor's "unexpected" super change. "Australians inadvertently breaching non-concessional contribution caps can be hit by an effective tax rate as high as 93 per cent," he said. "People should be able to correct any inadvertent errors ...