November 6 – Trevor Thompson
A welcome Government announcement today!
“Tax on Superannuation Pensions – tax on earnings on super assets supporting retirement income streams (Announced in April 2013 and documented in the 2013-14 Budget)
The Coalition Government will not proceed with Labor’s announcement which would have taxed people’s superannuation pension earnings above $100,000 in the draw-down phase.
The complexity and compliance costs associated with this initiative are extreme and essentially undeliverable.
This is a demonstration of the Government’s commitment to provide certainty for superannuation fund members by making no adverse unexpected changes to superannuation during our first term.”
By Trevor Thompson.
CFP DipFP
SENIOR PARTNER