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ATO Prioritising Debt Collection

As the economy emerges from COVID-19, the ATO is re-focusing on debt collection During the pandemic, the ATO deliberately shifted its focus away from firmer debt collection action to help and assist businesses and the community experiencing financial challenges because of the pandemic. It took a softly-softly approach, acknowledging the financial hardship that the virus …

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Superannuation Transfer Balance Cap

Transfer balance cap for pension phase accounts Starting 1 July 2017, there is a limit on how much of your super you can transfer from your accumulation super account to a tax-free “retirement phase” account to receive an account-based pension income. This is known as the super “transfer balance cap”. If you have more than …

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