There is a real cash benefit of up to $300,000 per year for eligible companies (based on a corporate tax rate of 30 per cent).
Tax Alert 2
Superannuation Contribution Tax Doubled for High-Income Earners
Superannuation contribution tax has increased from 15% to 30% for people earning more than $300,000, effective from July 1, 2012. The tax is applicable on concessional (before tax) superannuation contributions.
The change was pitched by the Government as an equity measure, arguing that the flat 15% tax rate gave high-income earners a tax break not available to low-income earners.