Concessional contributions are superannuation contributions in respect of which a tax deduction has been claimed whether those contributions are made by the employer (or a related company of the employer) of the member or by the member themself. These contributions are subject to tax in the super fund at 15%.
tax
One modest change that affects less than 0.5% of all Australians
With these words the Treasurer (and also the Assistant Treasurer and Minister for Financial Services) advised that the Government will impose a special rate of earnings tax of 30% on earnings on super balances of $3m and above.
Make the most of super strategies before 30 June 2021
In the world of superannuation, a few key changes have taken place over the past month that will impact superannuation strategies in the lead up to 30 June 2021 and beyond.
Working through live-in aged carer issues
With many baby-boomers dreading the prospect of going into an old-folks home, house-sharing may look like the answer.
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