The AAT has ruled that the Commissioner has no discretion to remit the “associated earnings” on excess superannuation non-concessional contributions as the earnings proxy rate is a not a “penalty”.
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Author: John Morgan
http://www.FJMtax.comJohn Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au