News : Tax

Division 296, Legislation, Tax

Further endorsement for Div 296 move

The government’s changes to the proposed Division 296 tax have received support from two more organisations that opposed the original measure.

The government’s changes to the proposed Division 296 tax have received support from two more organisations that opposed the original measure.

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Division 296, Legislation, Superannuation, Tax

New Div 296 issues emerge

While changes to the Division 296 tax have been welcomed, the shift has raised new questions on its altered operation and application.

While changes to the Division 296 tax have been welcomed, the shift has raised new questions on its altered operation and application.

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Division 296, Superannuation, Tax

Two significant Div 296 victories

The SMSF Association has expressed its relief over the changes to the Division 296 tax, especially those regarding the calculation of the impost.

The SMSF Association has expressed its relief over the changes to the Division 296 tax, especially those regarding the calculation of the impost.

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Division 296, Superannuation, Tax

Revised impost creates multi-tax system

Three levels of tax will apply to earnings in super if revisions to the Division 296 measure are adopted and enacted.

Three levels of tax will apply to earnings in super if revisions to the Division 296 measure are adopted and enacted.

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Division 296, Superannuation, Tax

Accountants united in support for changes

The three major accounting bodies have backed the changes to the Division 296 tax and have called for it to be implemented quickly.

The three major accounting bodies have backed the changes to the Division 296 tax and have called for it to be implemented quickly.

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Division 296, SMSF, Tax

Div 296 changes announced

The government will change the proposed Division 296 tax to only apply to realised earnings, but will add a second threshold at a higher rate.

The government will change the proposed Division 296 tax to only apply to realised earnings, but will add a second threshold at a higher rate.

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Division 296, Superannuation, Tax

New tax dominating adviser queries

The BT technical team continues to field numerous queries from advisers about strategies for the Division 296 tax and death benefit nominations.

The BT technical team continues to field numerous queries from advisers about strategies for the Division 296 tax and death benefit nominations.

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ATO, NALI/NALE, Tax

LCR 2021/2 example too basic

One particular example contained in Law Companion Ruling 2021/2 seems to lack critical detail, compromising its effectiveness.

One particular example contained in Law Companion Ruling 2021/2 seems to lack critical detail, compromising its effectiveness.

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Division 296, SMSF, Tax

Div 296 driving super engagement

Concerns around the proposed Division 296 tax are driving more people to consider SMSFs and the future of their retirement savings.

Concerns around the proposed Division 296 tax are driving more people to consider SMSFs and the future of their retirement savings.

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Compliance, Division 296, Legislation, Tax

Potential Div 296 impact grows

The latest industry research has highlighted a growing number of SMSFs will be impacted by the proposed Division 296 tax.

The latest industry research has highlighted a growing number of SMSFs will be impacted by the proposed Division 296 tax.

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