News : Tax

Division 296, Pensions, Retirement, Tax

TRIS a Div 296 management tool

Using a TRIS can help in balancing the total super balances of two-member SMSFs in order to manage potential Division 296 tax liabilities.

Using a TRIS can help in balancing the total super balances of two-member SMSFs in order to manage potential Division 296 tax liabilities.

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Division 296, Superannuation, Tax

Div 296 may be less than personal tax

Strong reactions to the Division 296 impost have obscured the fact many fund members would pay more tax outside of super on similar earnings.

Strong reactions to the Division 296 impost have obscured the fact many fund members would pay more tax outside of super on similar earnings.

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Compliance, Contributions, Education, Estate Planning, Tax

Smarter SMSF improves education course

Smarter SMSF has upgraded its education offering to include all of the latest changes to the superannuation and tax legislation.

Smarter SMSF has upgraded its education offering to include all of the latest changes to the superannuation and tax legislation.

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Division 296, Superannuation, Tax

Div 296 diminishes tax-effect accounting

The operation of Division 296 has removed the benefits of tax-effect accounting, while its costs may outweigh any possible benefits.

The operation of Division 296 has removed the benefits of tax-effect accounting, while its costs may outweigh any possible benefits.

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Division 296, Strategy, Tax

Division 296 exit may be more costly

SMSF members looking to avoid the impact of the Division 296 tax may find the exit costs higher than expected when all factors are considered.

SMSF members looking to avoid the impact of the Division 296 tax may find the exit costs higher than expected when all factors are considered.

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Division 296, Tax

Family law split timing has Div 296 effect

The timing of a family law split has the potential to alter an SMSF member’s Division 296 liability.

The timing of a family law split has the potential to alter an SMSF member’s Division 296 liability.

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Division 296, Pensions, Superannuation, Tax

Div 296 will capture reserves income

Superannuants with pension reserves may consider withdrawing them as the new Division 296 tax will capture income from them in its calculations.

Superannuants with pension reserves may consider withdrawing them as the new Division 296 tax will capture income from them in its calculations.

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ATO, Division 296, Superannuation, Tax

SAR to include new Div 296 label

The SMSF annual return for the 2027 income year will include a new label to facilitate the reporting of earnings for the Division 296 tax.

The SMSF annual return for the 2027 income year will include a new label to facilitate the reporting of earnings for the Division 296 tax.

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Compliance, Regulation, Tax, Wind ups

Manual tax return won’t hasten wind-up

The lodgement of a manual tax return shortly before 30 June will not necessarily accelerate the process of an SMSF wind-up.

The lodgement of a manual tax return shortly before 30 June will not necessarily accelerate the process of an SMSF wind-up.

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Division 296, SMSF, Superannuation, Tax

Div 296 for deceased members unworkable

Creating an open-ended period in which to claw back Division 296 from deceased superannuants would be overly complex and probably unworkable.

Creating an open-ended period in which to claw back Division 296 from deceased superannuants would be overly complex and probably unworkable.

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