News : Division 296

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.

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Division 296, SMSF, Superannuation, Tax

Reserves treatment adds to tax deferral call

The treatment of reserve allocations under Division 296 needs to be clarified and fixed, adding weight to the call to defer the start of the new tax.

The treatment of reserve allocations under Division 296 needs to be clarified and fixed, adding weight to the call to defer the start of the new tax.

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Division 296, SMSF, Superannuation, Tax

Admin amendments needed for Div 296

Certain payments, such as those pertaining to a personal injury, will require proper treatment to avoid an erroneous Division 296 tax liability.

Certain payments, such as those pertaining to a personal injury, will require proper treatment to avoid an erroneous Division 296 tax liability.

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Division 296, Legislation, Regulation, Tax

Uncertainty over super tax continues

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

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Division 296, SMSF, Superannuation, Tax

Division 296 tax called out as un-Australian

The proposed Division 296 tax has been labelled as running counter to the accepted ethos of traditional Australian society.

The proposed Division 296 tax has been labelled as running counter to the accepted ethos of traditional Australian society.

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Division 296, SMSF, Superannuation, Tax

Sitting days may hamper Div 296 progress

A limited number of parliamentary sitting days may delay the start of the proposed Division 296 tax, opening the door to changes.

A limited number of parliamentary sitting days may delay the start of the proposed Division 296 tax, opening the door to changes.

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Administration, Division 296, Documentation, Investments, SMSF, Strategy, Superannuation, Tax, Valuations

Div 296 to change compliance landscape

Compliance procedures applicable to SMSFs will be significantly impacted by the introduction of the proposed Division 296 tax.

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Division 296, Investments, Superannuation, Tax

Div 296 drives investment bond resurgence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, investment bonds, retirement income, Division 296 tax, estate planning, Generation Life, Vincent Stranges, death benefit taxes

The prospect of the Division 296 tax becoming a reality has spurred interest in investment bonds as superannuants seek other tax friendly options.

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Death benefits, Division 296, Estate Planning, SMSF, Tax

Div 296 drives estate planning urgency

SMSF members retaining high balances inside super will need to be proactive in their estate planning to avoid a further post-death tax hit.

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Division 296, Pensions, SMSF, Tax

Ditch Div 296 for compulsory cashing

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, compulsory cashing, Institute of Financial Professionals Australia, IFPA, Economic Reform Roundtable, tax concessions, retirement-phase pension, unrealised gains, Natasha Panagis

IFPA has claimed the reintroduction of compulsory cashing would reduce tax concessions in super and generate revenue for the government.

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