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    The document is a media release from Senator Penny Wong announcing that reports suggesting changes to superannuation tax concessions would not apply to politicians earning over $300,000 are incorrect. The changes, which will reduce the tax concession on superannuation contributions from 30% to 15% for individuals earning over $300,000, will apply equally to all people in accumulation and defined benefit schemes, including politicians, CEOs, and public servants. Administration of the policy will ensure equitable treatment for all superannuants earning over the threshold.

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    The document is a media release from Senator Penny Wong announcing that reports suggesting changes to superannuation tax concessions would not apply to politicians earning over $300,000 are incorrect. The changes, which will reduce the tax concession on superannuation contributions from 30% to 15% for individuals earning over $300,000, will apply equally to all people in accumulation and defined benefit schemes, including politicians, CEOs, and public servants. Administration of the policy will ensure equitable treatment for all superannuants earning over the threshold.

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    64 views1 page

    Senator The Hon Penny Wong Minister For Finance and Deregulation Media Release

    Uploaded by

    api-124274003
    The document is a media release from Senator Penny Wong announcing that reports suggesting changes to superannuation tax concessions would not apply to politicians earning over $300,000 are incorrect. The changes, which will reduce the tax concession on superannuation contributions from 30% to 15% for individuals earning over $300,000, will apply equally to all people in accumulation and defined benefit schemes, including politicians, CEOs, and public servants. Administration of the policy will ensure equitable treatment for all superannuants earning over the threshold.

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    SENATOR THE HON PENNY WONG MINISTER FOR FINANCE AND DEREGULATION MEDIA RELEASE

    PW 116/12 9 May 2012

    SUPERANNUATION TAX CONCESSION CHANGES Media reports tonight suggesting the changes to the superannuation tax concession for very high income earners announced in the Budget will not apply to politicians earning over $300,000 is incorrect. The measure will apply to all members of both accumulation and defined benefit schemes whose adjusted taxable income exceeds the $300,000 threshold and who make a personal contribution to their super. Under the changes, the concessional tax on superannuation contributions will be reduced from 30 to 15 per cent. This policy will apply to all individuals earning over $300,000, whether they are politicians, corporate CEOs or public servants. The Government will put in place arrangements for the proposal to ensure equity for all superannuants. Administration of these arrangements have been provisioned for. All politicians earning over $300,000 will receive the same tax treatment as any other individual. MEDIA CONTACT Evelyn Ek 0412 887 853

    Parliament House, Canberra ACT 2600 Australia Tel: (02) 6277 7400 Fax: (02) 6273 4110

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