Advisers, Practical accounting services, BWR Accountants, Forbes, Parkes, NSW, Australia
Image
Client Login

Latest News

Tax Facts - Superannuation Contributions for High Income Earners

Additional tax on super contributions at the rate of 15% is imposed on individuals whose combined income and contributions are greater than a certain threshold. From 1 July 2017 this threshold is $250,000. Prior to this it was $300,000. For affected individuals, this effectively increases the rate of tax on their superannuation contributions from 15% to 30%.

The additional tax can be paid personally by the taxpayer or the taxpayer can apply to his/her superannuation fund to have the necessary amount released and paid to the ATO.

Image
Forbes
36 Templar Street
PO BOX 837, Forbes NSW 2871
(02) 6852 1855, f (02) 6852 4198     
info@bwraccountants.com.au
Parkes Stay Connected:
136 Clarinda Street  
PO BOX 94, Parkes NSW 2870
(02) 6862 1444, f (02) 6862 4825     
info@bwraccountants.com.au

Online software for accountants by Wolters Kluwer     |    Site Map    |    Disclaimer    |    Copyright BWR Accountants & Advisers ©