The Australian Financial Review published an opinion piece by The Tax Institute: “How to end the super penalty trap” on Tuesday 12 April 2011 with respect to unfair excess super contributions tax. This is linked to a story on the same issue that appeared on page 5 that suggests the Government is keen to act to address the problem for which we have advocated change. To view the opinion piece, click here.
On the same issue, The Tax Institute was quoted on Wednesday 13 April 2011 in Money Management: “Pre-Budget calls for contribution cap relief” as well as the Sydney Morning Herald, The Age, WA Today, Business Spectator and Ninemsn : “Budget should address excess super rules”.
The Australian Financial Review also quotes the Tax Institute: “Students to lose tax break” regarding the reported decision by the Government to reverse the effect of the recent Anstis High Court case (for this year and next) regarding student expenses and deductions against youth allowance. The Tax Institute says: "the Anstis decision has significant Budget implications for the Government, as several hundred thousand Youth Allowance recipients and perhaps other income support recipients will be entitled to claim tax deductions for expenses incurred in qualifying for their allowance payment." We also note that the Government should not retrospectively amend the law.
On Wednesday 13 April 2011, The Tax Institute was interviewed by ABC Brisbane radio in relation to nuisance taxes, tax takes and State tax reform. To listen to the interview, click here.