Super tax break not just for employers THE ability to claim a tax deduction for super contributions is not limited to employers. Those who qualify as self-employed can also claim a tax deduction for super contributions. In some cases, a person can be employed full time and still qualify for a self-employed superannuation tax deduction. Q I am 62, employed by a company and fully sacrifice my salary into superannuation and my employer pays the SCG (superannuation guarantee charge) on the amount salary sacrificed. My payment summary certificate will include a small amount of salary plus fringe benefits for the provision of a car. A The 10 per cent rule you refer to relates to one of two tests that must be passed for a person to be classified as self-employed. The key word is "entitled". Advertisement There is no one test that can be applied to determine if a person is an independent contractor rather than an employee; instead, the facts of each situation are taken into account. Questions to max@taxbiz.com.au
Federal Incentives (United States) They were nice while they lasted, but the tax credits available to hybrid gas-electric cars bit the dust on Dec. 31, 2010. The incentives that President George Bush signed into law, as part of The Energy Policy Act of 2005, had granted up to $3,400 as a tax credit for the most efficient hybrid cars—and $4,000 for a compressed natural gas vehicle. They are gone, with little prospects for returning. Instead, legislators have jumped to the next technology breakthrough: tax credits for plug-in hybrids and electric cars. A combination of local and national credits—up to $7,500 at the federal level, plus a $2,000 credit for charging equipment installation, plus state-based incentives (of $5,000 in California)— represent so far the largest bundle of incentives ever for private purchasers of green electric-drive vehicles. With hybrids remaining below 3 percent of the new car market, some green car advocates wonder if the hybrid tax credits have vanished too soon. Training Wheels Come Off