GOVERNMENT TARGETS COMSUPER INVALIDITY BENEFITS FOR SOME VETERANS FROM 1 JULY THIS YEAR

On 1 July some veterans on DFRDB/MSBS Invalidity Pensions who upon application, have had their taxation adjusted to the correct lower rate, i.e. the rate that applies to civilians with similar invalidity payments. This adjustment followed work from a number of successful private rulings from the Australian Tax Office (ATO).

Apparently, following representations from ComSuper  and as part of the sustainable superannuation push, the Government introduced changes to the law which removed the avenue that allowed injured Veterans to have their Invalidity payments taxed correctly from 1 July 2017. The Government calls it a “loophole”, however this legislation has been available for many years.

Those veterans currently affected have already been notified by Comsuper of the changes to their tax as of 1 July.  For most, it means a loss of several hundred dollars a fortnight, for some over a thousand dollars a fortnight.

NOTE: THIS ISSUE IS NOT RELATED TO THE TAX FREE STATUS OF DVA PENSIONS: THEY ARE NOT AFFECTED BY THESE CHANGES TO THE LAW.

DFWA (and ADSO) are consulting with others in the ESO and Defence Community and are seeking legal advice. They will be making direct representations to the Government and Parliament .  We strongly support a petition (petition EN0242) concerning this matter and encourage you to sign it NOW.

READ MORE

 

Become A Digital Member




Visit State or Territory Associations

Click here for Queensland Branch Click here for Northern Territory Branch Click here for Western Australia Branch Click here for South Australia Branch Click here for New South Wales Branch Click here for Australian Capital Territory Branch Click here for Victoria Branch Click here for Tasmania Branch

Virtual
War Memorial
Australia

Campaign Donations

Follow Us