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Superannuation and tax considerations

Published on 01 Mar 12 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The taxation of superannuation is a topic that is constantly growing in importance, especially given the size of the superannuation pie and the notional annual cost of the tax concessions that it consumes.

This article considers some of the key tax issues currently affecting superannuation funds, including the stronger super changes related to MySuper and the Cooper Review, an increasing focus on net (after fees and taxes) return in the interests of members, and recent Australian Taxation Office rulings and proposed legislation affecting the taxation of superannuation. The author argues that the increased governance, transparency and measurement inherent in the Stronger Super reforms will mean that the superannuation industry will develop better ways to create superior after-tax returns for members as part of a conscious strategy formulated by fund trustees. This will be beneficial for members and should also create a good deal of activity for the tax profession.

Author profile:

Jeremy Cooper

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