The loss of investor confidence in superannuation fund managers combined with the lure of controlling your own financial destiny has seen an explosion in the number of Self Managed Super Funds (SMSF) in this country.
The Government did not make any changes to the currently legislated tax rates which apply for the 2010/11 year and subsequent years. However, Personal Income Tax Rates have been adjusted to add the flood levy that was introduced into Parliament on 10 February 2011 and passed both houses of Parliament in March.
