$500K lifetime contribution cap: urgent fix needed!
15 Sep 16 |
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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Daniel 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.
- Current at
29 May 2019
Philippa is a Lawyer with DBA Lawyers.
- Current at
11 April 2016