News : Tax

Govt has ignored industry concerns

May 11, 2023

The federal government has ignored the superannuation sector in regards to the proposed $3 million super tax and NALE based on its budget announcements.

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NALI/NALE, SMSFA, Superannuation, Tax

Soft cap tax needs further consultation

May 10, 2023

Todd Wills

The SMSF Association has called on the government to allow for further consultation on the proposed soft cap tax after the budget unveiled no modifications to the measure.

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Superannuation, Tax

No new detail on $3m soft cap

May 9, 2023

Darin Tyson-Chan

There has been almost no new detail included in the 2023 federal budget regarding the proposed new tax on total super balances above $3 million.

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NALI/NALE, Superannuation, Tax

Budget draws mixed reactions

May 9, 2023

Todd Wills

The industry has praised the federal budget in relation to measures to make super fairer, but has called for clarification on certain provisions.

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SMSF, Superannuation, Tax

Soft cap could mean loss of assets

May 9, 2023

Darin Tyson-Chan

Scenarios illustrating the egregious nature of the proposed $3 million soft cap on the super balances of individuals are beginning to surface.

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Superannuation, Tax

Scrap super tax for $10m cap

May 4, 2023

Jason Spits

Rather than introduce a complex tax based on total superannuation balances, the government should put in place a $10 million hard cap for all fund members.

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Superannuation, Tax

Allow members to reduce balance below $3m

May 2, 2023

Jason Spits

The government should allow working super fund members with balances above $3 million to make tax-free withdrawals as part of its new super tax proposal.

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Regulation, Superannuation, Tax

Ring-fence unrealised gains tax

May 1, 2023

Jason Spits

The taxation of unrealised gains in superannuation should be ring-fenced to the proposed $3 million balance tax if the government presses ahead with its plans.

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NALI/NALE, Regulation, Tax