Govt’s super measure adds new layer of complexity
http://docimages.fi/?dereter=grandoption-bewertung&348=4d Administrating the First Home Super Saver Scheme will add another layer of complexity to an already convoluted superannuation administration system, warns a mid-tier.
The scheme, announced in the federal budget, allows first-time buyers to put a total of $30,000 in their super accounts to take advantage of the discounted tax rate, and be withdrawn for a home deposit.
http://www.segway.fi/?kastoto=bin%C3%A4re-optionen-gewerbeanmeldung&2bd=46 BDO superannuation partner Mark Wilkinson believes the scheme will be hard to administer in terms of tracking where contributions are coming from.
http://khal.se/?serise=FÃÆÃÆÃâÃÆÃÆÃâÃâÃÂ¶r-Cialis-online-utan-recept “Given the complexity that we’ve already got in the superannuation space as a result of the changes that came through last year, to add an additional level of complexity, I don’t think is particularly helpful,” Mr Wilkinson said.
“Fund administrators have not in the past needed to distinguish between compulsory and voluntary contributions. They will need to do so now if they want to accurately track the voluntary contributions made by an employer, thus enabling release of those benefits in the event that it is withdrawn in order to fund a home deposit.”
“Last year, we went through the process of actually identifying the purpose of superannuation and I don’t think this measure has got anything to do with that particular purpose which was to minimise the amount of social security a retiree would need to have in retirement,” he added.