Sheppard Hanson & Co, Tax Accountants, Cannon Hill, Tingalpa
Written by Sheppard-Hanson-Accountants on February 4, 2019 in Practice Updates

The ATO has been using “Additional tax on concessional contributions (Division 293) assessments; with respect to liabilities relating to the 2018 income year.

Division 293 imposes an additional 1% tax on certain concessional (ie. taxable) superannuation contributions.

This means that impacted individuals may ultimately pay 30% tax (when the Division 293 tax is combined with the existing 15% contributions tax ) with respect to:

Read More:  February 2019 – Practice Update

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