Feedback sought on proposed 30% tax on super balances over $3m

Feedback Sought On Proposed 30% Tax On Super Balances Over $3m

1 week from now

Mar 31, 2023  · Feedback sought on proposed 30% tax on super balances over $3m. 31 March 2023. •. By Jon Bragg. •. 5 minute read. SHARE. The Albanese government’s plan to reduce …

investordaily.com.au

What Advisers Are Telling Clients About The $3m Super Tax

1 week from now

Aug 19, 2024  · Financial advisers are urging a quick resolution to the parliamentary stalemate over a plan to lift the tax rate on the earnings of super balances above $3 million to 30 per …

afr.com

Superannuation Tax On Balances Over $3m Will Be Avoided By …

1 week from now

Dec 4, 2023  · Labor’s proposed new tax on superannuation balances above $3 million is projected to affect 80,000 people and generate an additional $2 billion in revenue a year from …

afr.com

$3m Soft Cap Tax Concerns Left Off Table | SMS Magazine

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February 13, 2024. Todd Wills. During the initial consultation phase for the proposed $3 million soft cap, industry feedback was not sought regarding certain key aspects of how the tax would …

smsmagazine.com.au

Superannuation Update: Proposed $3 Million Superannuation Cap …

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From 1 July 2025, the Government has proposed an ‘additional’ tax of 15% on earnings on an individual's superannuation benefits over $3 million at the end of a financial year. This …

pwc.com.au

How Can The $3m Super Tax Proposals Be Improved?

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Apr 20, 2023  · This would see the headline tax rate doubled from 15 per cent to 30 per cent for earnings corresponding to the proportion of an individual’s super balance that was greater …

moneymanagement.com.au

Our Advocacy Work: 30% Tax On Earnings Of Superannuation …

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Apr 20, 2023  · In February 2023, the Government announced an intention to pursue an increase in the tax rate applying to superannuation earnings on member balances over $3 million. The …

pitcher.com.au

Labor's Proposal To Increase Tax Rates For Super Balances Above ...

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Whilst Labor’s recent announcement of a proposed higher rate of tax on super balances above $3m, from 1 July 2025, has caused quite a stir, our view is: Superannuation continues to be an …

sawarddawson.com.au

How Will The Proposed 30% Tax On Super Earnings Above $3m Work?

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Mar 2, 2023  · The Government has announced that the concessional tax rate on earnings from superannuation in will increase from 15% to 30% for those with total super balances (TSB) of …

knowledgeshop.com.au

Extra Tax On Super Balances Over $3m - HLB Mann Judd

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Mar 6, 2023  · The changes will apply to individuals (not superannuation funds) with a total super balance (from all their super funds) in excess of $3m on 30 June 2026. A new tax of 15% will …

hlb.com.au

Better Targeted Superannuation Concessions - Australian Taxation …

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Aug 13, 2024  · From 1 July 2025 tax concessions will be reduced for certain earnings for superannuation balances above $3 million. On 28 February 2023, the Australian Government …

ato.gov.au

New 30% Tax Rate On $3 Million Superannuation Balances

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Mar 8, 2023  · The concessional tax rate on earnings from superannuation in the accumulation phase will remain at 15% up to $3 million. From $3 million onwards, the rate will increase to …

aintreegroup.com.au

The New 15% Tax On $3M+ Member Total Super Balances – A Tax …

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Apr 24, 2023  · The increased amount of TSB will be subject to a maximum 15% tax, levied on a proportionate basis to the extent that the member’s TSB exceeds $3 million. This article …

smsfadviser.com

How The 30% Super Tax Will Hit Balances Over $3 Million

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Oct 4, 2023  · TSBs will be tested for the first time on 30 June 2026 with tax liability notices issued in 2026-27. Treasury's example of a balance exceeding $3 million. Warren is 52 with $4 million …

morningstar.com.au

Special Extra Tax For $3m Super Balances – An Update

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Mar 6, 2023  · The measure is limited to those individuals who have more than $3m in super at the end of a financial year. Since it’s not due to start until 2025/26, it’s the balance in super at 30 …

bellpartners.com

It Depends – Proposed Tax On Super Balances Over $3 Million

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So, as an example, if your total superannuation balance at the end of the year is $4.5 million subtract $3 million to get $1.5 million. Divide that by $4.5 million again and you find that it’s …

cgw.com.au

This Is How You’ll Be Taxed If Your Super Balance Is Over $3m

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May 12, 2023 – 12.14pm. The big question for those with large superannuation balances is, now that the federal budget has confirmed an extra 15 per cent tax on “earnings” above $3 million ...

afr.com

The $3mil Super Cap: Debunking The Myths - Ulton

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Jul 23, 2024  · Myth 1: This is an additional tax on the income from super funds with a balance of over $3million. This is a tax on the "earnings" from a super fund, not just the income. …

ulton.net

The New 15% Tax On $3M+ Member Total Super Balances From 1 …

1 week from now

Apr 26, 2023  · Overview. Broadly, from 1 July 2025, where a member’s total superannuation balance (TSB) exceeds $3 million, an increase in their TSB at the end of the relevant financial …

dbalawyers.com.au