SUPERCentral Pty Ltd. The company's legal needs in superannuation, estate planning and financial services are exclusively provided by TOWNSENDS BUSINESS & CORPORATE LAWYERS. The leading edge SUPERCentral system was granted an Australian patent in 2008 and is monitored and protected.
SUPERCentral is Australia's leading online SMSF Deed Update Service specifically designed to assist Accountants, Financial Advisers and SMSF Administrators save time and money.
Back Issue Newsletters
Media
- Managing business succession - Professional Planner by Tony Negline
- Ethical super rules against sole purpose test - Investor Daily
- Bare trusts should use corporate trustees - Investor Daily
- Loans the lifeblood of self-managed funds - The Australian by Tony Negline
- Smart gearing will help cover your assets - The Australian by Tony Negline
- Clients forgiving towards advisers over losses - Money Management by Peter Townsend
- SMSFs vs. POFs - Super Living by Peter Townsend
- The Super Game - The Australian
- Retirees precious capital - Sydney Morning Herald
- Super pension in a financial downturn - SMSF by Michael Hallinan
Income Test Reforms Now Enacted
20/04/2009
One of the changes arising from the 2008 Budget was the Government’s decision to harmonise (ie make tougher) the income tests used in various tax legislation as a precondition for tax concessions.
These changes have now been enacted and will apply to the 2009/10 and following tax years. The relevant legislation is Tax Laws Amendment (2009 Measures No 1) Act 2009 which received Royal Assent on 26 March 2009.
The legislation will affect super in two main ways. Firstly, it will affect the operation of the “10% substantially self employed” deduction rule. Secondly, it will affect the entitlement to the Government Co-Contribution.