News : Division 296

Division 296, Property, Tax, Trusts

Div 296 will slug indirect asset income

Indirect assets held by an SMSF will not get any CGT adjustment under Division 296, resulting in potentially higher tax liabilities.

Indirect assets held by an SMSF will not get any CGT adjustment under Division 296, resulting in potentially higher tax liabilities.

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Division 296, Legislation, SMSFA, Superannuation, Tax

Concerns not addressed in new tax bill

The SMSF Association has flagged problems still remain in the Division 296 legislation that could create unintended consequences.

The SMSF Association has flagged problems still remain in the Division 296 legislation that could create unintended consequences.

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Division 296, Legislation, Superannuation, Tax

Revised Div 296 legislation introduced

The government has introduced the revised Division 296 tax legislation into parliament less than four weeks after consultation on it closed.

The government has introduced the revised Division 296 tax legislation into parliament less than four weeks after consultation on it closed.

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Division 296, Investments

Amended Div 296 treats losses unfairly

The latest draft of the Division 296 tax bill will effectively result in super fund members being taxed when they have suffered financial loss.

The latest draft of the Division 296 tax bill will effectively result in super fund members being taxed when they have suffered financial loss.

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Division 296, Retirement, Tax

AIR calls for new tax carve-out

A consumer advocacy group wants self-funded retirees who have already structured their retirement to be exempt from the Division 296 tax.

A consumer advocacy group wants self-funded retirees who have already structured their retirement to be exempt from the Division 296 tax.

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Division 296, Superannuation, Tax

Capital loss caution before Div 296

SMSFs can realise capital losses as a Division 296 mitigation strategy, but need to take the right steps to avoid other tax breaches.

SMSFs can realise capital losses as a Division 296 mitigation strategy, but need to take the right steps to avoid other tax breaches.

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Division 296, Strategy, Tax

Super may still be best Div 296 option

High-balance SMSF members are likely to find their fund is still the most tax-effective savings vehicle despite the Division 296 tax.

High-balance SMSF members are likely to find their fund is still the most tax-effective savings vehicle despite the Division 296 tax.

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Division 296, SMSF, Tax

Strategise Div 296 payment sources

SMSF members who will pay Division 296 tax should look to reduce other taxable components in super when making those payments.

SMSF members who will pay Division 296 tax should look to reduce other taxable components in super when making those payments.

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Division 296, SMSF, Tax

Div 296 advice may trigger tax avoidance

Advice provided to clients in relation to managing a Division 296 liability could be viewed as tax avoidance in some circumstances.

Advice provided to clients in relation to managing a Division 296 liability could be viewed as tax avoidance in some circumstances.

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Division 296, Legislation, Tax

New tax should exempt deceased members

Plans to levy the Division 296 tax on deceased superannuants reflect the haste in which the impost has been created by the government.

Plans to levy the Division 296 tax on deceased superannuants reflect the haste in which the impost has been created by the government.

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