Arrangement to help NSW police make voluntary contributions
The Federal Government has entered a four year transitional arrangement to ensure New South Wales Police can make voluntary superannuation contributions, the Federal Treasurer and the NSW Treasurer announced.
Administrative changes to payment structures and the payment of death and disability insurance for NSW police in 2012 had effect of leaving some officers with more limited ability to make voluntary salary scarified concessional contributions towards their retirement without incurring an additional tax burden.
Federal Treasurer, Scott Morrison, said the Federal Government and the NSW Government would equally share the costs of ensuring the NSW police had the same scope to make salary sacrifice contributions into super as other individuals without incurring an additional tax burden.
"Under these new arrangements the Federal and NSW Governments will provide funding for the reimbursement of additional tax that NSW police officers would incur on voluntary concessional contributions that would not have exceeded their concessional cap prior to 2012," he said.
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