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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


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 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 Tax Institute’s National Superannuation Committee and is involved with a number of other tax and SMSF committees and discussion groups. Dan also 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. - Current at 04 August 2020
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Philippa Briglia
Philippa is a Senior Associate with Sladen Legal. - Current at 23 June 2020
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