06 Mar 099
ATO's Superannuation Consultative Committee (SCC)
Michael Payne-Mulcahy FTIA represented the Taxation Institute at the SCC meeting on Tuesday 3 March 2009. The SCC focuses on high level aspects of the ATO's administration of superannuation. In addition to general updates about superannuation legislative and administrative changes and developments, discussions focused in particular on:
- amendment of the income tests in Tax Laws Amendment (2009 Measures No 1) Bill 2009 (see 2009 TAXVINE No 5 (13 February 2009));
- clarifying what advice the ATO can provide on the SIS Act;
- ATO strategies for dealing with illegal early release;
- ATO approaches to debt in the current financial environment; and
- Simpler Super (excess contributions tax and TFN matching).