Home >  Blog >  Pension earnings tax scrapped

Pension earnings tax scrapped

Posted on 7 November 2013

We are pleased at the government's decision to scrap the planned 15% tax on superannuation pension earnings above $100,000, agreeing with Joe Hockey that it was "undeliverable''.

Our view remains the proposed tax would have affected more clients than anticipated during years when returns were strong, and imposed a significant administration and reporting burden, the cost of which would of been passed onto retirees.

There was further good news when Joe Hockey confirmed the Coalition Government’s decision to abandon the proposed $2000 cap on self-education expenses. Another area of uncertainty for our clients over recent months.

Tags: News Tax

Post comment

Latest News

View all news

Insurance premiums have gone up. What can you do about it?

Posted by Alex Menzie on 1 October 2020
Increasing insurance premiums. A tale as old as time. Over the past 12-18 months, w...

Socially responsible investments - The winds of change

Posted by Alex Menzie on 16 June 2020
Current social events have, once again, reinforced the importance of investing time a...

Covid-19 Business Concessions

Posted by Matt Connor on 25 March 2020
The Australian and state governments have announced a number of concessions designed ...
< Previous | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Next >


For Events and News

The information on this site is of a general nature. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.

The financial planning services are provided by Medical Financial Pty Ltd trading as Medical Financial Planning (AFSL 506557)