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Superannuation is a tax-advantaged method of saving as the 15% tax rate on contributions is lower than the rate an employee would have paid if they received the money as income. The federal government announced in its 2006/07 budget that from 1 July 2007, Australians over the age of 60 will face no taxes on withdrawing monies out of their ...
The taxable income of a superannuation fund is taxed at a flat rate of 15%; however, concessional contributions of those members whose taxable income exceeds $300,000 are subject to a rate of 30%. In the 2016 federal budget, the government proposed to reduce, effective 1 July 2017, the threshold when the tax rate of 30% comes in to members ...
Current Payroll Tax Rates and Thresholds [25] State ... The compulsory nature of Australian Superannuation means that it is sometimes regarded as being similar to ...
MTAA Super (Motor Trades Association of Australia Superannuation Fund) is an industry superannuation fund established to serve the motor trades and allied industries. Created in 1989, it has become one of Australia's largest super funds.
There’s growing interest from Australian self-managed super [retirement] funds (SMSF) to invest in crypto but are being let down by a lack of regulatory clarity, Caroline Bowler, chief executive ...
The rates for resident individual taxpayers are different from those for non-resident taxpayers (see below). The current tax-free threshold for resident people is $18,200, and the highest marginal rate for individuals is 45%. In addition, most Australians are liable to pay the Medicare levy, of which the standard is 2% of taxable income. [7]
Australia’s central bank lifted its benchmark interest rate Tuesday for the first time since June with a quarter percentage point hike that brought the cash rate to a 12-year high of 4.35%. The ...
TelstraSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. Originally established in 1994 for Telstra employees, TelstraSuper opened its membership to the public in 2022. It’s Australia’s largest corporate superannuation fund with over $23 billion in assets invested on behalf of members.
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