More than 12 independent and Coalition senators spoke out against the new $3 million super tax legislation in the Lower House on Wednesday, calling for amendments to the taxing of unrealised capital gains and the lack of indexation.
Budget tinkering around the edges of superannuation smsfadviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smsfadviser.com Daily Mail and Mail on Sunday newspapers.
Farmers Federation Warns of Superannuation Tax Burden miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
SMSFA claims proposed legislation breaches tax principles in last-minute submission smsfadviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smsfadviser.com Daily Mail and Mail on Sunday newspapers.
Taxing unrealised gains in superannuation under Division 296 smsfadviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smsfadviser.com Daily Mail and Mail on Sunday newspapers.
The SMSF Association has confirmed it likely doesn't have enough senators on its side to block the proposed $3 million superannuation tax, but Teal independents intend to force an amendment ensuring it is indexed.
The SMSF Association has confirmed it likely doesn't have enough senators on its side to block the proposed $3 million superannuation tax, but Teal independents intend to force an amendment ensuring it is indexed.
Two leading associations have called for the government’s plan for a tax on super balances above $3 million to be scrapped, as the legislation is tabled in Parliament.
The government's proposed tax on superannuation balances exceeding $3 million could adversely impact up to 50,000 self-managed super fund members (SMSF), including posing liquidity challenges.