Business Services Industry
[2295] Excess contributions tax.
Australasian Business Intelligence, January, 2007
Byline: Stuart Jones
Jan 02, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- New Australian superannuation legislation contains regulations on excess contributions. Contributions above the $A50,000 concessional contributions cap will be effectively taxed at the top marginal rate. Mercer Human Resource Consulting has warned that people who exceed the limits could be taxed at a rate of up to 93 per cent or 124.5 per cent if they have not supplied their tax file number.
Publication Date: 8 December 2006
MERCER HUMAN RESOURCE CONSULTING PTY LTD
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