Tag: tax efficiency planner
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Government Proposes Super Tax Reforms for Fairness and Sustainability
As the federal government’s plan to increase the tax on superannuation balances over $3 million sparks debate, it’s crucial to understand the rationale behind super tax breaks and why reforms are necessary. These tax breaks, costing the government nearly $50 billion annually, aim to enhance retirement savings and prevent exorbitant long-term tax rates on super…