Division 296 Is Here: What the New Super Tax Means for SMSF Trustees
Highlights Division 296 applies from the 202627 income year, with the first assessment landing at the end of that financial year Earnings on balances within a defined large-balance band face a considerably higher effective tax rate, rising further for balances above an even higher threshold Only realised earnings are captured, a key departure from the earlier 2023 proposal which would have taxed unrealised gains After years of debate and a significant redesign, Division 296 has been legislated...


