I went with my family today to the Rockhampton ANZAC day parade so that we could pay our respects to all who have served before (and continue to serve today) and thank them for their contribution to our heritage today.
I felt a great deal of pride to see the very many people and especially younger children doing likewise.
In the March 2007 Editors Letter of the Asset Magazine (http://www.assetmag.com.au/) Leng Yeow, commented on an important consumer issue of shelf space fees. After reading it, I am reassured by my business decision to partner with MLC Financial Planning and use MasterKey and MasterKey Custom as my preferred investment platforms.
More than three million australians have not supplied their tax file number (TFN) to their superannuation funds, according to the Australian Taxation Office.
That’s a huge proportion of Australian workers who won’t be ready for the new rules announced in the 2006 Federal Budget relating to the provision of TFN’s. These changes will come into effect on 1 July 2007, making many Australians liable for a tax they needn’t pay.
Currently, the only impact of notifying your super fund of your TFN is a higher rate of ETP tax applied to the pre and post 1983 components at the time your superannuation benefits are paid.
But it’s a different story after 1 July this year, from which tinme funds will be required to report TFN’s to the ATO. This is due to the new contribution limits proposed by the government and the requirements of the ATO to track them to ensure that the limits are adhered to by the fund’s members.
For more information contact Plan 2 Prosper.
