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20 July 2025
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The Government's proposed tax has copped a lot of flack though I think it's a reasonable approach to improve the long-term sustainability of superannuation and the retirement income system. Here’s why.
Unfunded defined benefit plans mostly cover current and former Commonwealth and State public servants. These schemes are different from funded ones, yet the new $3 million super tax will treat them similarly.
A binding death benefit nomination makes sense if you belong to an APRA super fund, yet how about if all of your super is in an SMSF? Here are the pros and cons of having such a nomination in your SMSF.
There’s no good news in the draft legislation for 'Division 296 tax', the new name for the tax on super over $3 million. These worked examples show the flaw in taxing unrealised gains. And stop calling it a 30% tax.
There is far more to the simple 'objective of super' than meets the eye. It will guide future policy and those who assume we've seen the end of major superannuation changes are not reading the signals.
A bill that allows the ATO to merge dormant super accounts with active ones and release super members from compulsory life insurance embedded in enterprise agreements and from exit fees was tabled on 21 June 2018.
Cut through all the political speak and hype with this simple checklist of proposed super changes (as they currently stand), but remember - these changes are yet to be legislated.
A question from one of our readers on whether the (delayed) Tax White Paper will result in changes to the dividend imputation and capital gains tax systems.
If your SMSF loses residency status while you are overseas, the tax penalties are significant enough to spoil your retirement. Being aware of the rules and options available allows you to avoid the hurt and enjoy the homecoming.
Technical but important - recent amendments allow the income on investments supporting a non-reversionary pension to continue as exempt current pension income after the death of the member.
Research now backs up the anecdotal claims that SMSF trustee confidence in the superannuation system is declining. The proposed Council with its independence and long term view will help address this.
Treasurer Jim Chalmers aims to tackle tax reform but faces challenges. Previous reviews struggled due to political sensitivities, highlighting the need for comprehensive and politically feasible change.
You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.
The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.
Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
In selling the super tax, Labor has repeated Treasury claims of there being $50 billion in super tax concessions annually, mostly flowing to high-income earners. This figure is vastly overstated.