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Notice given 10 February 2012

1549  Senator Cormann: To ask the Assistant Treasurer—With reference to superannuation contributions in excess of the concessional and non-concessional caps:

(1) For the 2009-10 and 2010-11 financial years, listed separately:

(a) how many individuals made contributions above the concessional and non-concessional contribution caps respectively;

(b) what was the average amount paid above the concessional and non-concessional contribution caps respectively;

(c) what was the total amount of taxation collected as a result of contributions above the concessional and non-concessional contribution caps respectively;

(d) what was the average amount of tax paid per individual on contributions above the concessional and non-concessional contribution caps respectively;

 

 (e) what was the average amount of excess concessional contributions that counted towards the individual’s non-concessional contribution caps for the same period;

(f) what was the average amount of excess concessional contributions that counted towards the individual’s non-concessional contribution caps that created excess non-concessional contributions for the same period; and

(g) how many people does the Australian Taxation Office (ATO) expect to make contributions above the concessional and non-concessional contribution caps and how much taxation is this estimated to raise.

(2) For the 2010-11 financial year, how many individuals exceeded the concessional contributions caps, listed by the marginal income tax rate brackets.

(3) How much has it cost the ATO to administer the concessional and non-concessional contribution caps for the:

(a) 2009-10; and

(b) 2010-11 financial years.

(4) For the 2011-12 financial year, how much does the ATO estimate it will spend administering the concessional and non-concessional contribution caps respectively.