Changes to the Superannuation Guarantee Contributions Levy – What Does It Mean For You!
- salary sacrifice
- personal contributions or
- under an industrial award
it may be wise to do a review to avoid exceeding the cap.
Excess contributions above the cap will result in Division 293 tax provisions being applied where the amount of excess contributions is included in your assessable income and taxed at your marginal rate. Also, an excess contributions charge will be payable.
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