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Excess contributions and payments by mistake.

Publication date: 29 Apr 11 | Source: CCH TAX WEEK

Issue: Issue 14 April 2011

Pages: pp. 1-3


Excess contributions are an ongoing issue for superannuation advisors and members. Recent figures indicate that the Commissioner of Taxation exercises his discretion to disregard or reallocate excess contributions in approximately 2% of cases. Further, the view of the Tax Office is that its hands are tied and that it is administering the law as parliament intended.

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Author profiles

Rebecca James
Rebecca James, of DBA Lawyers, is an experienced self-managed superannuation fund lawyer, with expertise in advising accountants, financial planners, trustees and financial institutions on superannuation and taxation law matters. She is well known for providing practical and commercially focused advice on all aspects of operating an SMSF, as well as providing superannuation, estate planning and taxation advice. Rebecca has presented for various organisations, including The Tax Institute and the SMSF Association. Rebecca holds a Master of Laws from the University of Melbourne as well as being a Specialist SMSF Advisor. - Current at 04 August 2016
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Mark Payne
Mark is a Partner in HWL Ebsworth’s Taxation group. Mark provides advice to Australian and international clients on a broad range of taxation, superannuation and financial services-related areas with a particular emphasis on SMSFs. - Current at 02 June 2015
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