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self employed person can make contributions to a super fund as a tax deduction up to age of 75, but the contribution will not be deductible if 10% or more of the person's assessable income/reportable fringe benefit is derived from employment.
contribution to superfund is taxed at 15%, however, penalties apply to excess contributions, the contribution threshold for 09/10 is $25000 or $50000 for those age 50 or more as at 30/06/2010.
Please note cut of date is 30/06/10. consult with your accountant/financial planner before making significant contributions. |
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