Australia

Details

  • Service: Tax, Superannuation & Pension Funds, Topics, Tax Reform, Federal Budget
  • Industry: Financial Services, Superannuation
  • Type: Business and industry issue
  • Date: 9/05/2012

Federal Budget 2012 and the superannuation sector 

Our 2012 Federal Budget Brief provides a review of the major implications arising from the Federal Budget 2012-13 in the superannuation sector.
Federal Budget 2012 and the cuperannuation sector - Cover
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Key insights

  • For the next 2 years, all individuals will have a concessional contribution cap of $25,000, regardless of their age.
  • Concessional rates will apply to Employment Termination Payments (ETP) if the sum of the ETP and the other person's other taxable income is less than $180,000.
  • High income individuals in Defined Benefits Funds will anxiously await clarification of the treatment of notional employer contributions.

 

For further information please speak with your KPMG adviser or one of the KPMG professionals listed on our Brief.

 

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