Sent: 21-02-2012 14:01:03
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Change to tax system
A tax change is coming on 1 July 2012 which doesn't seem to have been focused on by many people.
It's an important issue and involves the taxation of bona fide redundancy and approved early retirement scheme benefits.
One major change from that date is that from that date you won't be able to roll the Eligible Termination Benefit part of such payments over to super.
The amount of tax paid on these benefits will increase from 1 July for most people.
Given the fragile state of the economy and larger businesses seem to be shedding staff these matters take on a harder edge. Perhaps some people need to consider seeking separation from their employer before 1 July this year to gain access to the tax concessions which are disappearing.
Just before Christmas I published a revised version of my SMSF book. You can see all the changes that have been made between Version 5.1 and 6.0 (the latest edition).
You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne
For details of the changes made from version 5 to version 6 visit: http://www.atcbiz.com.au/r.php?r=d5xcpch
As you'll see from the list there have been many changes.
Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb
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