Category Archives: Super

The End of Excess Contributions Tax Mark 2

In the Tax and Superannuation Laws Amendment (2014 Measures No 7) Bill 2014 we finally get the final rules that will allow the refund of excess non-concessional contributions. We have discussed this change when it was released as draft legislation. But the final legislation … Continue reading

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“Buy our properties in an SMSF”

Very interesting… In a Media Release, ASIC has announced that it has commenced proceedings to prevent a property investment promoter from promoting the use of Self Managed Super Funds to purchase investment properties. ASIC claims to have evidence of where this entity has … Continue reading

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Super paid for the dead… Required by law???

What do you do regarding super payments if an employee dies? In ATO Interpretative Decision ATO ID 2014/31 the Commissioner considers whether you have SG obligations on salary and wages paid to an employee after they died. In this case … Continue reading

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The ALMOST end of Excess Contributions Tax

In the last budget the Government announced the end of Excess Contributions Tax. The announcement was that, just like was already the case for excess concessional contributions, from 1 July 2013 if a taxpayer makes excess non concessional contributions, rather … Continue reading

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Tax, super and pizza – the perfect combination

Pop quiz: Are pizza delivery drivers, who are required to use their own vehicle and are just paid per delivery, employees for the SGAA? ATO Interpretative Decision 2014/28 says they are. It concludes they are common law employees as the … Continue reading

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Super gets an indexation boost

Its time to relearn your super rules… From 2014/15 the concessional contribution cap will increased for the first time to $30,000. So remember that in the 2014/15 year there will be a $35,000 cap for those aged 49 years or over on … Continue reading

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Clearing the Tax and Super Decks

Apart from the changes in the Mining Tax and Carbon Tax repeal bills (small business instant asset write off, carry back losses…), and the promise to remove the means testing of the private health insurance offset, the government only has … Continue reading

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