The compliance costs of the superannuation surcharge tax
The Superannuation Surcharge Tax (SST) is a hidden tax, with significant effects on (so-called) higher income taxpayers. The SST was introduced in August 1996, and, according to the Australian Taxation Office, 'is intended to limit the concessionality of employer and deductible personal superannuation contributions for high income earners'. For the 2000/01 year it is levied at a rate of up to 15% on the surchargeable contributions of fund members whose adjusted taxable income exceeds the surcharge threshold of $81,493. This paper investigates the compliance costs on the industry. Other aspects such as SST start-up costs and industry attitudes are also assessed for the year 2000/01. Findings are based on an in-depth, quantitative and qualitative survey of 40 fund managers and administrators who appreciated the value of this research and sacrificed their time to provide us with data. Respondent funds account for 6.5% of superannuation fund members in Australia (the ?fund member population?) and 3.8% of superannuation assets in Australia (the ?fund asset population?).
Year of publication: |
2003
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Authors: | Pope, Jeffrey ; Fernandez, Prafula |
Publisher: |
School of Economics and Finance |
Saved in:
freely available
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