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From the 2012-2013 financial year to the 2016-2017 financial year, superannuation contributions are available for individuals with income not in excess of $37,000. [43] The Government offsets a maximum of $500 and a minimum of $20, calculated at 15% of a low income earners total superannuation contributions. [44]
On 21 February 2023, the Commonwealth Bank Group Super announced it had entered into a memorandum of understanding to pursue a merger with the Australian Retirement Trust. [7] In July 2024, Qantas announced it would merge its superannuation fund with Australian Retirement Trust.
The Australian Taxation Office (ATO) is an Australian statutory agency and the principal revenue collection body for the Australian Government. The ATO has responsibility for administering the Australian federal taxation system , superannuation legislation, and other associated matters.
According to the agency’s news release, the maximum contribution that an employee can make to a 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan (TSP) is ...
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The full list of the 2023 Emmy Awards Nominations can be found on the official Emmy's website. When are the 2023 Primetime Emmys? The Emmys are scheduled for Monday, Jan. 15, 2024.
In the 2016 federal budget, the government proposed to reduce, effective 1 July 2016, the annual before-tax contributions limit to $25,000. Since 2014/15, the annual non-concessional contributions cap was $180,000 (or $540,000 in a three-year period under the bring-forward rule [7]), up from $150,000 and $
Income tax is collected on behalf of the federal government by the Australian Taxation Office. The two statutes under which income tax is calculated are the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997; the former is gradually being re-written into the latter. Taxable income is the difference between assessable income ...