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On 22 February 2010, the Taxation Institute wrote a letter to the Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen, in relation to Excess Superannuation Contributions Tax.

The letter reiterates the Taxation Institute’s strong view that the Government must act to stop people being hit with tax penalties of up to 93% that apply to superannuation contributions in excess of government limits.  It is noted that the Minister announced at the recent national conference of the Self-Managed Super Fund Professionals’ Association that he has agreed to examine this matter.

For a copy of the letter, go here.

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