News : Division 296

Contributions, Division 296, financial advice, Financial Planning, SMSF, Superannuation, Tax

NCCs not a Div 296 earnings element

Non-concessional contributions will not play a role in the calculation of earnings for the Division 296 tax for SMSF members.

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Division 296, Legislation, Regulation, Superannuation

Div 296 clause may extend tax reach

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, parliamentary approval, Section 296-60, regulations, withdrawals, contributions, regulation, authority of parliament

An insertion into tax law as part of the proposed Division 296 measure may give the government a mechanism to extend its reach by regulation.

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Division 296, SMSF, Tax

Div 296 asset values can be reduced

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, asset values, super balance, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, termination value, total super balance, $3 million threshold, The Super Playbook 2025, property

Assets in an SMSF can be reported at a lower value for Division 296 purposes through using an alternative super balance figure.

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Division 296, SMSF, Tax, Valuations

Asset valuations unchanged for Div 296

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, asset valuation, Division 296, SIS Regulation 8.02B, market value, Accurium, Mark Ellem, total super balance, valuation guidelines

The asset valuation rules currently applicable to SMSFs will remain unchanged after the Division 296 tax is implemented.

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Division 296, SuperStream, Tax

SMSFs will have to de-risk under new tax

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, investment portfolio, small company, venture capital, unrealised capital gains, Wilson Asset Management, WAM, Geoff Wilson, innovation, trustees, de-risk

The Division 296 tax is likely to drive SMSFs away from small company investments, reducing the pool of capital available to them.

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Division 296, Superannuation, Tax

Div 296 can boost advice proposition

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, tax minimisation, personal tax, Accurium, Mark Ellem, marginal tax rate, total super balance, 30 per cent, 15 per cent, financial advice

The proposed Division 296 measure gives practitioners the opportunity to enhance their advice proposition through tax optimisation strategies.

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Death benefits, Division 296, Superannuation, Tax

Div 296 sparking death benefit discussions

self managed super, self managed superannuation, SMSF, death benefit tax, Division 296, Heffron, Meg Heffron, assets outside superannuation, tax

The Division 296 impost has prompted SMSF members looking at retaining assets in super to consider the tax impact of their death on their beneficiaries.

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Division 296, SMSF, Superannuation, Tax

Div 296 progress unconscionable

self managed super, self managed superannuation, SMSF, Division 296, Tax Institute, Julie Abdalla, unrealised gains, alternative model, consultation period

Government plans to push on with introducing the Division 296 impost completely disregard the input of key stakeholders and override the rules of equity in tax law.

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Accounting, Division 296, SMSF, Superannuation, Tax

Poll finds mixed support for Div 296

Division 296, superannuation, Australia Institute, poll, support, tax concessions, super balances, $3 million, Richard Denniss

A poll has found around half of Australians are in favour of the Division 296 tax, with many giving it strong support.

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