Understand how the Excess Contributions and Tax and Division 293 Tax process works for high income earners.
Find out about the limits on the before and after tax contributions you can make into your superannuation in a financial year.
Explore the some of the different options available to you if you find yourself needing to pay a bill issued by the ATO.
No one likes receiving surprise bills, especially when tax is concerned. But the good news is that you have some options on how you can make payment to the ATO. There is the straightforward process of paying out of your own pocket, or there is a possibility that you can release funds from within your superannuation.
This fact sheet will help you to understand the cap for employer contributions into your superannuation, what your tax obligations are if you exceed that cap, and your options for paying any bills issued by the ATO.
