Change to calculating compulsory employer super contributions long overdue
Fri Nov 30 2007
The Age --- Page: B10 : 30 November 2007 Original article by Max Newnham
LexisNexis Summary
There is speculation about whether the Australian Labor Party will adjust the new superannuation system in 2008. It is possible the rules for compulsory employer super contributions could be tightened, which is an overdue change. In 2007 there can be confusion when salary is sacrificed to super. For instance, if an investment property is sold with a capital gain, there can be implications for self-employed super contributions. If salary and wage income is less than 10 per cent of total income, a tax deductible self-employed super contribution is allowed, but the amount claimed in a return, combined with the employer and salary sacrifice contributions, cannot exceed $A100,000.
