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Treasurer's announcement on taxing super pensions

Treasurer Joe Hockey's Media Release on 'Restoring integrity in the Australian tax system', including the decision not to tax superannuation pension earnings above $100,000, is here.

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.

http://jbh.ministers.treasury.gov.au/media-release/017-2013/

  •   7 November 2013
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