Loans on the go
Upcoming superannuation changes
The labor party announced that from 1st of July 2014 superannuation income over $100,000 would be taxed at 15 percent. This reform specifically targets the wealthy earning whose superannuation balance are over $2 million. The Gillard government also proposed to lift the annual cap for concessional tax treatment of contributions from $25,000 to $35,000 for Australians over 50.