Tag: tax planning guide
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Proposed Tax Changes on Superannuation Funds Impact Investment Landscape
Jim Chalmers, Treasurer of Australia, has proposed a significant change to the tax arrangements concerning superannuation funds holding over $3 million. This move is expected to impact a large number of young individuals, prompting them to consider alternative investment avenues like trusts, according to leading tax expert Bob Breunig. Superannuation and Taxation: A Practical Guide…
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Labor’s Super Tax Plan Gains Expert Support for System Reform
Experts have expressed support for Labor’s super tax plan, emphasizing the importance of needed reforms in the superannuation system. The proposal aims to trim tax breaks for the wealthiest 0.5% of savers, affecting about 80,000 Australians with super balances over $3 million. While the plan has faced intense criticism, leading experts argue that it is…