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$500K lifetime contribution cap: urgent fix needed!

Publication date: 15 Sep 16 | Source: CCH TAX WEEK

Issue: Issue 36, 9 Sep 2016

Pages: pp 1-3

Abstract:

One of the most disturbing aspects of the $500k lifetime non-concessional contribution (NCC) cap announced in the 2016 Federal Budget is that it catches NCCs made since 1 July 2007. The government denies this proposal is retrospective. This article outlines a range of reasons why the government should remove the retroactive application of this cap as soon as possible.

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Author profiles

Daniel Butler CTA
Photo of author, Daniel BUTLER Daniel Butler, CTA of DBA Lawyers, Daniel is one of Australia’s leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO’s Superannuation Industry Relationship Network (SIRN), the Chair of the Tax Institute’s National Superannuation Committee, a member of the Law Institute of Victoria’s Tax Committee, and is involved with a number of other tax and SMSF committees and discussion groups. Dan presents on the subject Taxation of Superannuation at the University of Melbourne’s Master of Laws/Tax program. Dan is also a Specialist SMSF Advisor. - updated by Kathy Xu for Super Day 3180522 - Current at 30 April 2018
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Philippa Briglia
Philippa is a Lawyer with DBA Lawyers. - Current at 11 April 2016
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