Division 296: New Tax Super Balances >$3M | From 1 July 2026, based on 30 June 2027 balance. An additional 15% tax applies to the proportion of super fund earnings attributable to individual balances exceeding $3 million. Balances above $10M attract a further 10%. The tax can be paid personally or from your super. For […]
Not every item below will apply to you. If you have any doubt, please email or call us. Superannuation Concessional cap top-up. $30,000 limit (includes employer SG). Contribute personally and claim a tax deduction. Funds must be received and cleared by the super fund before 30 June. This limit increases to $32,500 in FY27. Carry-forward […]
The proposal to increase superannuation tax on earnings on member balances > $3m from 15% to 30% (i.e. 30% tax rate on the proportion of earnings >$3M only) was introduced to parliament on 30 November 2023 and is unlikely to be debated until April 2024. With considerable industry opposition to the lack of indexation to […]