What is Division 296 tax? Division 296 legislation has passed both houses as of 11 March 2026 without further amendments and will take effect from 1 July 2026. Division 296 tax is an additional tax on individuals whose total superannuation balance exceeds $3 million at year end. It targets earnings attributable to the portion of […]
READ MOREIs Your SMSF Investment Portfolio Diversified Enough?
The ATO have recently announced they will be contacting the trustees of approximately 17,700 SMSFs to discuss their fund’s investment strategy and whether they are actively working towards a diverse strategy. The funds within the ATO’s view are those which are invested in a single asset or asset class or have more than 90 per […]
READ MORE5 Common SMSF Potholes to Avoid
SMSFs can be a fantastic vehicle for investing and growing your retirement benefits. But, while there is a lot more freedom allowed within an SMSF, when compared to a retail fund, it’s important to always be mindful of the restrictions and regulations in place for superannuation. The following is a short list of some of […]
READ MOREWhat you need to know about Total Super Balances
What are Total Superannuation Balances (TSB) and why does the ATO need to keep track of them? A member’s TSB is the total sum of their balances held within both retirement phase income streams and accumulation accounts across all superannuation funds. As mentioned in our article “Getting Ready for TBAR Reporting”, the Total Superannuation Balance […]
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