Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

asked the Minister representing the Assistant Treasurer, upon notice, on 17 March 2011:

With reference to the changes to concessional superannuation caps and the answer to question on notice no. 367 (Senate Hansard, 3 March 2011, p. 1195):

(1) What is the number of individuals exceeding the concessional contributions caps, as per Table 1 in the answer to question on notice no. 367, broken down by the marginal income tax rate brackets for the each of the following financial years: (a) 2008-09; (b) 2009-10; and (c) 2010-11 (as an estimate).

(2) What percentage of the individuals who have breached the concessional contribution caps are defined benefit members.

(3) How does the Government propose to spend the excess contributions tax collected.

(4) How many of the individuals with excess contributions tax will be expected to pay the proposed flood levy.

(5) Given that in the answer to question on notice no. 367 says that the Government does not assume a rise in excess contributions tax, has there been an assumption elsewhere that the personal income tax collected will increase; if so, by how much.

(6) Are the costs of administering the excess contribution tax expected to continue to grow in the future; if so, what are the projected costs over the forward estimates.

(7) At what point is it expected that the costs of administering the system will outweigh the excess contributions tax.