News : Tax

Division 296, Tax

CGT adjustment applicable to all

The Division 296 CGT asset value adjustment should be considered by all SMSF members even if their total super balance is under $3 million.

The Division 296 CGT asset value adjustment should be considered by all SMSF members even if their total super balance is under $3 million.

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Division 296, Tax

Plan asset sales to defer Div 296

Reducing an SMSF balance and timing of the sale of assets can be used to avoid or reduce a potential Division 296 liability.

Reducing an SMSF balance and timing of the sale of assets can be used to avoid or reduce a potential Division 296 liability.

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Division 296, Tax

TSB timing a flaw in Div 296

Applying Division 296 to a superannuant because their TSB exceeds $3 million anytime during a financial year is a flaw in the new tax.

Applying Division 296 to a superannuant because their TSB exceeds $3 million anytime during a financial year is a flaw in the new tax.

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Division 296, Estate Planning, Tax

Div 296 may alter estate planning

Future estate planning practices could change as a result of how deceased super fund members are treated in the revised Division 296 legislation.

Future estate planning practices could change as a result of how deceased super fund members are treated in the revised Division 296 legislation.

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Death benefits, Division 296, Legislation, Regulation, Superannuation, Tax

Div 296 death rules a critical change

The application of Division 296 to deceased superannuants is a critical change to the revised bill and may have a significant tax impact.

The application of Division 296 to deceased superannuants is a critical change to the revised bill and may have a significant tax impact.

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Division 296, SMSF, Tax

New tax requires three-stage approach

SMSF members should formulate a strategy regarding the management of their Division 296 situation in three distinct stages.

SMSF members should formulate a strategy regarding the management of their Division 296 situation in three distinct stages.

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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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Investments, Property, Residential Property, Retirement, Tax

CGT reform must take macro view

IFPA has called on the government to look beyond the CGT discount if it is aiming to reform this area of the Australian taxation system.

IFPA has called on the government to look beyond the CGT discount if it is aiming to reform this area of the Australian taxation system.

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