Taxing profits from super funds

Discussion in 'Accounting & Tax' started by Hugh, 1st Jul, 2015.

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  1. Hugh

    Hugh Member

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    Hi all, interested to hear your thoughts.

    My accountant tells me that they have all had to complete competency tests regarding the reporting of superannuation contributions, and that this means that one day the government will tax all income generated from super funds.

    Can anyone confirm this?

    Cheers
     
    Hugh, 1st Jul, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Nope.
     
    Terry_w, 1st Jul, 2015
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  3. Mike A

    Mike A Well-Known Member

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    all super funds are taxed. some super funds receive concessional rates of tax depending on the status of members in the fund. if members are in full pension phase then the tax rate may be nil. The accountant is speculating on something that may or may not happen in future.
     
    Mike A, 3rd Jul, 2015
    #3