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13 Oct 14 Does the temporary budget repair levy apply to SMSFs?

The ATO advises that the Temporary Budget Repair Levy started on 1 July 2014. It is a 2% levy that applies if a taxpayer's income is taxed at the highest marginal tax rate. Super fund tax rates that match the top marginal tax rate for individuals (namely, rates for Income of non-complying super funds, Non-arm’s-length income and No-TFN-quoted contributions) have been increased by 2%.

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