Business Services Industry
My, ain't life good.
Australasian Business Intelligence, July, 2007
Byline: Brian Toohey
Jul 01, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Wealthy retirees in Australia will be big winners from the changes to superannuation that take effect on 1 July 2007. Payouts from super funds will be tax-free for those over the age of 60, while such payouts will not have to be included when lodging tax returns with the Australian Taxation Office. As a result, those over the age of 60 will be able to avoid paying the Medicare levy, while still receiving government benefits such as subsidised prescription drugs and discounts on telephone and power bills.
Publication Date: 30 June 2007
AUSTRALIAN TAXATION OFFICE
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