On 2 Feb 2022, the Financial Review posted an article by its Michael Read, titled ‘‘Inequitable’ and ‘unsustainable’: Call to cap super balances at $5m‘. This reported on a proposal by AIST, to cap superannuation balances at $5m (so balances can’t grow beyond this figure). The article is reproduced below. One of the…
The Australian Institute of Superannuation Trustees (AIST) issued a media release on 28 Jan 2022, saying it has recommended changes to the superannuation system to ensure all Australians benefit from the strong returns being achieved by super funds and to enhance the equity of the system. Budget Changes ASIST recommended, are outlined in its Pre-Budget…
On 23 August 2021, the Senate passed a motion ordering the Commissioner of Taxation to provide protected information about some businesses which received JobKeeper Payments. The ATO takes its obligations to uphold taxpayer secrecy laws very seriously. As you may be aware, the Commissioner pursued a claim for public interest immunity in this matter. The…