News : Division 296

Division 296, SMSF, Superannuation, Tax

Div 296 paused with changes likely

The government seems reluctant for the Division 296 tax legislation to progress in its current form, with amendments likely to be made to the bill.

The government seems reluctant for the Division 296 tax legislation to progress in its current form, with amendments likely to be made to the bill.

read more
Division 296, SMSF, Tax

Accountants reissue call for new tax changes

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

read more
Division 296, Superannuation, Tax

Balance-levelling proposal undermines Div 296

A bill has been tabled in parliament to allow couples to enact rollovers to each other to level up their super balances, with one specialist noting it could sidestep Division 296 for some couples.

A bill has been tabled in parliament to allow couples to enact rollovers to each other to level up their super balances, with one specialist noting it could sidestep Division 296 for some couples.

read more
Division 296, Superannuation, Tax

Tax concession premise misconceived

The validity of a government assumption with regard to taxable income in the justification of the proposed Division 296 tax has been questioned.

The validity of a government assumption with regard to taxable income in the justification of the proposed Division 296 tax has been questioned.

read more
Division 296, SMSF, Tax

Interest charge for super tax deferrals

The deferral of a Division 296 tax liability will incur a penalty charge consisting of a base interest rate plus 3 per cent.

The deferral of a Division 296 tax liability will incur a penalty charge consisting of a base interest rate plus 3 per cent.

read more
ATO, Division 296, Legislation, Tax

Taxpayer will get Div 296 notification

The ATO notification regarding a Division 296 tax liability will be sent directly to the taxpayer and will not involve their superannuation fund.

The ATO notification regarding a Division 296 tax liability will be sent directly to the taxpayer and will not involve their superannuation fund.

read more
Division 296, Legislation, Tax

Super tax timeframe still undetermined

The government has not publicly committed to a date to introduce the Division 296 legislation stating it has until 2026 to do so.

The government has not publicly committed to a date to introduce the Division 296 legislation stating it has until 2026 to do so.

read more
Division 296, Legislation, Regulation, Tax

Old claims can’t justify Div 296 start

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

read more
Division 296, SMSF, Superannuation, Tax

Case law may ease Div 296 severity

Practitioners might be able to apply some case law in order to reduce a significant Division 296 tax liability a client might be facing.

Practitioners might be able to apply some case law in order to reduce a significant Division 296 tax liability a client might be facing.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.