Tag: financial planning guide
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Maximize Super Contributions with Strategic Planning Before June 30
As June 30 approaches, it’s crucial to review your superannuation contributions to maximize available caps and benefits. Contribution caps are generally “use it or lose it,” making it essential to seek advice on strategies to build your super balance efficiently. The concessional contribution cap and timing of contributions play a significant role in optimizing your…
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Superannuation Tax Concessions Fuel Wealth Inequality, Spark Policy Debate
Superannuation tax concessions, initially intended to promote saving, have instead exacerbated inequality by primarily benefiting the wealthiest individuals who exploit these concessions to minimize tax obligations. The government’s current efforts to limit tax breaks on superannuation balances exceeding $3 million have sparked debate, with critics arguing that such measures penalize responsible savers. However, the reality…
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Controversial Superannuation Tax Plan Tests Albanese Government’s Resolve
Labor’s proposed tax on superannuation for individuals with over $3 million in assets has sparked controversy and is seen as a significant test for the Albanese government. Some view it as an intrusion into retirement funds to offset government spending, potentially setting a precedent for additional wealth taxes. Superannuation and Taxation: A Practical Guide to…