News : Tax

Division 296, SMSF, Tax

Stop seeing Div 296 as super fund tax

Confusion around the details of the Division 296 impost can be overcome by separating what taxes are paid by an SMSF and what will be paid only under the proposed new tax regime.

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Division 296, SMSF, Superannuation, Tax

Personal injury a Div 296 escape

Any individual who makes a superannuation contribution stemming from a personal injury insurance payment will not be captured by the Division 296 tax.

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Division 296, SMSF, Superannuation, Tax

Minister meeting confirms no tax changes

The SMSF Association has labelled Division 296 consultations that took place in 2023 as an endorsement process after meeting recently with the new Financial Services Minister.

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Division 296, LRBA, SMSF, Superannuation, Tax

LRBA carve-out inconsistent

Plans to carve out LRBAs from the total super balance figures used to calculate Division 296 tax highlight the irregularities around their inclusion within TSBs.

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Division 296, SMSF, Superannuation, Tax

Half a million may be hurt by new impost

New analysis by the Financial Services Council has calculated the full impact of the proposed superannuation tax under four different scenarios.

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Division 296, SMSF, Tax

Div 296 consultation claims refuted

Claims the government consulted widely but was not presented with an alternative Division 296 model have been rejected by an industry body.

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Division 296, SMSF, Tax

SMSF double whammy from new tax

SMSFs trustees face paying tax on both unrealised and realised capital gains as a result of the proposed Division 296 tax.

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Division 296, SMSF, Tax

WAM initiates anti-Div 296 petition

An Australian fund manager has received significant support for a petition opposing the proposed Division 296 tax it has just begun circulating.

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Division 296, SMSF, Tax

Opposition refuses to budge on Div 296

Two members of the shadow cabinet have reiterated the coalition will not alter its stance in opposing the taxation of unrealised gains under the proposed Division 296 impost.

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financial advice, Financial Planning, SMSF, Tax

Greater advice tax deductibility for SMSFs

SMSF practitioners have the ability to present their clients with larger tax savings on financial advice due to the ATO’s jurisdiction over the SIS Act.

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