25th May 2016

25 May 2016

Written by

David Busoli, Principal

In light of the Budget announcements we have had numerous enquiries regarding the level of non concessional contributions made by fund members since 1 July 2007.

The ATO have advised that they can provide this information for the period ending 30 June 2015 provided that individuals and funds have met their lodgement obligations to date. They have further advised that the process will be manual and will be based on information from funds, income tax returns and excess contribution amounts released.

Enquiries can only be made by individual members or their personal tax agents. As we do not lodge each member’s personal tax returns we are, unfortunately, unable to assist. Until the calculation process is improved the ATO will be under the pump so don’t expect an immediate response.

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