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Recent developments affecting contribution strategies and practices


There have been a number of key legislative and interpretative developments which have a bearing on strategies and practices related to contributing to taxed, complying superannuation funds. This article reviews some of these developments. The primary focus is on recent developments affecting the tax treatment of concessional contributions. The article also covers various significant developments which affect the tax efficiency of non-concessional contributions or which otherwise have a bearing on the level of contributions that a client should make.

The article considers in turn superannuation guarantee changes, reduction of the government co-contribution, the low income earners’ contribution, the concessional contribution cap and the impact on transition to retirement pension strategies, the higher contributions tax for “very high income earners”, recent changes to the treatment of excess concessional contributions, the Commissioner’s discretion to disregard or reallocate excess contributions, identification of unusual contributions, and off-market transfers between related parties and SMSFs.

Author profile:

David Shirlow CTA
David has been involved with the financial services industry since 1985. He is an Executive Director with Macquarie Bank where he manages government relations and technical media commentary. David is a director of SMSF Professionals Association of Australia, a practising member of the NSW Law Society, a CTA and fellow of the Tax Institute, and is on the Superannuation Board Committee of the Financial Services Council. Current at 08 January 2014 Click here to expand/collapse more articles by David SHIRLOW.
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