December 2, 2013

Government Dumps Proposed Tax on Superannuation Reforms

In early November the Government announced it will set itself a 1 December 2013 deadline to resolve uncertainty over numerous superannuation and tax policies going back to 2001.

The main take away points include:
  • Not proceeding with propsed changes to taxing superannuation pensions that earn income in excess of $100,000
  • Dumping FBT proposals to change the rules for calculating FBT on motor vehicles and;
  • Scrapping the proposal to apply a $2,100 cap on self-education expenses.

More changes are likely to follow over the coming months and we will keep you informed as matters progress. Any queries please call our office.

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