Division 296

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The ‘new Div 296’ – exposure draft legislation released today

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The ‘new Div 296’ – exposure draft legislation released today

As discussed here and here, the Treasurer confirmed by media release that the former Division 296 Bill would not be reintroduced in the same form as the draft legislation introduced to Parliament in November 2023.

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Sladen Snippet - Division 296 tax, the proposed new $3 million super fund tax on unrealised gains, still not law

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Sladen Snippet - Division 296 tax, the proposed new $3 million super fund tax on unrealised gains, still not law

Division 296 tax, the proposed new $3 million super fund tax on unrealised gains, did not pass in the Senate yesterday, 13 February 2025.

Division 296, if passed, would impose an additional 15% tax on members with a $3 million or more total super balance (not indexed).

Division 296 is now unlikely to be put to the Senate before an election, and is expected to become a key election issue.

#division296 #$3million #unrealisedgains