As Peter does not like paying tax he has decided to contribute $24,000 into his superannuation fund account on the 29th of June. His contribution is within the concessional contributions limit. He has advised his fund (which is a complying fund) of his intent to claim a tax deduction for this contribution. How will this donation be treated for tax purposes?
A) This is an example of tax avoidance
B) This is an example of tax planning
C) This is an example of tax evasion
D) This is an example of a sham
Correct Answer:
Verified
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