30 Apr 09
SuperUpdate April 2009
The ATO has published its SuperUpdate for April 2009. The update includes information on 24,000 potential excess contributions tax liabilities that the ATO has identified in the 2007-08 income year. The ATO will be writing to the affected taxpayers in May 2009 to:
- let them know they may have to pay excess contributions tax (ECT)
- ask them to check that the super data the ATO holds for them for the 2007–08 financial year is correct
- advise them that they may wish to review the contributions made to their super fund/s this financial year to ensure their contributions remain under the caps.
For a copy of SuperUpdate April 2009, go here