[596] Taxation Statistics 2002-03 - superannuation.(Brief Article)

Australasian Business Intelligence, May, 2005 by Jones, Stuart

May 02, 2005 (Weekly Tax Bulletin - ABIX via COMTEX)

Australian superannuation funds reported total income of $A54.7 billion in 2002-03, according to the Australian Taxation Office (ATO). Self-managed superannuation funds (SMSFs) accounted for 94 per cent of all funds, while receiving $A10 billion in income. Superannuation funds claimed a total of $A17.3 billion in deductions in 2002-03, with the biggest claims being for transfers of taxable contributions ($A7 billion) and exempt current pension income ($A3.3 billion). SMSFs claimed a total of $A334 million in deductions, with the largest amount ($A82 million) being for management and administration expenses.

Publication Date: 22 April 2005

AUSTRALIAN TAXATION OFFICE 

By Stuart Jones...

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