News : Superannuation

Legislation, Superannuation, Tax

IFPA calls for five soft cap changes

Institute of Financial Professionals Australia IFPA $3 million earnings tax soft cap

In a submission to government regarding the proposed $3 million soft cap, IFPA has identified five areas where amendments are needed.

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Administration, Legislation, SMSF, SMSFA, Superannuation, Tax

$3m soft cap liquidity risk proven

$3 milliom superannuation earnings tax liquidity SMSFA

New SMSF Association-commissioned research has indicated the tax on super balances over $3 million will result in liquidity risk.

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Legislation, Superannuation, Tax

Short consultation period a risk

Superannuation earnings tax consultation period

The industry requires a longer consultation period to evaluate the impacts of draft legislation imposing measures like the $3 million soft cap.

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Legislation, Superannuation, Tax

Soft cap tax unjust

Soft cap tax

An industry body has criticised the draft legislation regarding the $3 million soft cap labelling it as being inequitable and problematic.

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Legislation, SMSFA, Superannuation

Call for exclusive super objective law

Objective of superannuation

The SMSF Association has used its submission to Treasury on the objective of super to highlight three outcomes the process should achieve.

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Legislation, SMSFA, Superannuation, Tax

Unrealised gains outside super tax scope

Superannuation earnings tax

The SMSFA has once again rejected the inclusion of the taxation of unrealised capital gains in the government’s superannuation earnings tax, following the release of draft legislation yesterday.

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Superannuation, Tax

$3m tax draft bills released

$3 million superannuation earnings tax TSB total superannuation balance

The superannuation sector has been given 16 days to respond to the $3 million earnings tax draft legislation released today with no substantial changes to previous announcements.

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Legislation, Regulation, Superannuation

Super objective remains rejected

Objective of superannuation IFPA Natasha Panagis

The objective of superannuation proposed in draft legislation tabled last month has not got Institute of Financial Professionals Australia backing.

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Regulation, Superannuation, Tax

Super funds already differentiated

$3 million soft cap calculation

The reasoning behind the calculation of the proposed tax on the $3 million soft cap is at odds with other aspects of the superannuation system.

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Administration, Retirement, SMSF, Superannuation

Control now of greater importance

SMSF motivation control

The need to have greater control over their superannuation is becoming an increasingly important element motivating individuals to establish an SMSF.

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