Sentence examples for concessional tax from inspiring English sources

"Fifteen per cent remains a very concessional tax rate.

From 1 July next year, people aged 56 to 65 will pay a 15% concessional tax rate on earnings from assets.

The ZTO provides a concessional tax offset designed to recognise isolation, "uncongenial climate" and the high cost of living associated with living in certain identified locations.

Instead of paying no tax on superannuation asset earnings, from 1 July 2017 people aged 56 to 65 in "transition to retirement" will pay a 15% concessional tax rate on earnings from assets.

The Coalition policy places a $500,000 lifetime cap on non-concessional superannuation contributions, backdated to 2007; increases the concessional tax rate on asset earnings from 0%to15%5% for people aged 56-65 in the "transition to retirement" (TTR); and taxes accounts over $1.6m at 15%.

"Now, it is true that some people, around 4%, on high incomes and with high superannuation balances will have to pay some more tax on their superannuation account in the sense they will pay the 15% tax whereas previously they were paying nothing... 15% remains a very concessional tax rate.

But it's the three meaningful constraints (or caps) on future super that have caused the most outrage – a lifetime cap of $500,000 for all non-concessional (after-tax) contributions made since 2007, in force from budget night; a cap of $1.6m on the overall pension balance; and a $25,000 per year cap on future concessional (before tax) contributions, both applying from July 2017.

Government has included many promotional policies for the promotion of this sector like product reservation, infrastructure support, direct and concessional credit, tax concession, special assessment in procurement of equipment, facility of duty drawback, quality control, and provision of market network.

Individuals with a super balance of more than $1.6m will no longer be eligible to make non-concessional (after tax) contributions from 1 July 2017.

The warning creates a dilemma for the treasurer, Scott Morrison, who is being pressured by conservative colleagues to lift the lifetime cap on non-concessional after-tax super contributions above the proposed level of $500,000.

"Yes it is an increase in taxation but it is still a very concessional rate of tax," Turnbull said in June.