This submission makes several recommendations, including continuing with the Tax White Paper process, repealing the so-called ‘work test’ for superannuation contributions and indexing the LISTO to increases in the Super Guarantee rate.
Continue Tax White Paper process
Many submission ahead of the 2016/17 Budget were limited due to an assumption that the Government was proceeding with the announced Tax White Paper process. Submissions to the Budget process closed on the 5th of February 2016. On the same day the Prime Minister Malcolm Turnbull said: “I think given we’re so close to the Budget, the Budget will be, for all practical purposes, the White Paper”.