Monthly Archives: August 2013

Excess super contributions tax abolished

The 31.5% penalty tax applying to excess concessional super contributions has (finally) been scrapped. The old scheme was unfair in that excess contributions were taxed at 46.5% (including the 15% contributions tax that ordinarily applies to concessional contributions) which is equivalent to the highest marginal rate. Furthermore, the excess contribution amount was assessed under the […]

Posted in Superannuation | Comments closed
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