Super wealth tax: what advisers are telling clients about $3m ...

Super Wealth Tax: What Advisers Are Telling Clients About $3m ...

1 week from now

Aug 19, 2024  · Michelle Bowes Wealth reporter. Aug 23, 2024 – 5.00am. Financial advisers are urging a quick resolution to the parliamentary stalemate over a plan to lift the tax rate on the earnings of super ...

afr.com

When Should My Super Be Under $3m To Avoid The Proposed New …

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Not all of this will be taxed. Instead, tax will only apply to a “proportion” of the “earnings”, and the proportion is worked out as follows: $4m - $3m. = 25%. $4m. In other words, the tax would be …

heffron.com.au

Advisers Weigh In On New Super Tax Advice Opportunities

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Oct 16, 2023  · The federal government’s recently released draft legislation doubling the concessional tax rate for super balances exceeding $3 million – set to take effect in July 2025 …

professionalplanner.com.au

Understanding The New $3m Super Tax - Focus Wealth Advisers

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Mar 11, 2024  · Once the legislation passes through Parliament and receives Royal Assent, Division 296 will take effect from 1 July 2025. Division 296 legislation imposes an additional 15 …

focuswealthadvisers.com

Understanding The New $3m Super Tax - Direct Advisers

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Mar 20, 2024  · Once the legislation passes through Parliament and receives Royal Asset, Division 296 will take effect from 1 July 2025. Division 296 legislation imposes an additional 15 per cent …

directadvisers.com.au

Understanding The New $3m Super Tax - Adapt Wealth

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Mar 15, 2024  · Division 296 legislation imposes an additional 15 per cent tax (on top of the existing 15 per cent) on investment earnings of a super account where your total super …

adaptwealth.com.au

Understanding The New $3m Super Tax - Insight Financial Advisers

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Mar 12, 2024  · When law, Division 296 will represent a significant change to the super rules, particularly for fund members with significant account balances. Given the complexity of the …

insightadvisers.com.au

Understanding The New $3m Super Tax - Wealth Creation Advisers

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Division 296 legislation imposes an additional 15 per cent tax (on top of the existing 15 per cent) on investment earnings of a super account where your total super balance (TSB) exceeds $3 …

wealthca.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

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

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May 12, 2023  · During 2025-26, Ray took $100,000 in pension payments and made a $20,000 concessional contribution and $300,000 non-concessional contribution. Ray’s earnings will be …

afr.com

Update On The Proposed $3m Super Balance Tax - Pitcher Partners

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Legislation for the new tax was introduced into Parliament on 30 November 2023 with a stated commencement date of 1 July 2025. Subject to legislative passage, it will apply a new tax of …

pitcher.com.au

Update On The Proposed $3m Super Balance Tax - Pitcher Partners

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May 4, 2023  · The Government announced an intention to legislate an additional 15% tax on earnings on superannuation account balances above $3m on 28 February 2023. Treasury …

pitcher.com.au

Savvy Super Savers Will Avoid The $3m Threshold. Here’s How

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Dec 4, 2023  · The tax will impose an additional 15 per cent on the growth of super balances exceeding $3 million. It’s a prorated tax, meaning it applies proportionally to the amount …

afr.com

Understanding The New $3m Super Tax

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Apr 8, 2024  · Division 296 legislation imposes an additional 15 per cent tax (on top of the existing 15 per cent) on investment earnings of a super account where your total super balance …

stonehousegroup.com.au

Update On $3m Super Balance Tax - SW Accountants & Advisors

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Oct 11, 2023  · Although this is a significant increase in tax, superannuation is still a good investment vehicle. A brief summary of the proposed tax. An additional 15% tax is levied on …

sw-au.com

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

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Mar 6, 2023  · For those familiar with “Div 293” tax, the last two elements will feel familiar. This is a special extra tax (coincidentally, also 15%) paid on the concessional contributions made by …

bellpartners.com

Understanding The New $3 Million Super Tax And How It Affects …

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The Australian Government has proposed to increase the tax rate on earnings of superannuation balances above $3 million from 15% to 30%. Scheduled to commence on 1 July next year …

alphaadvisers.com.au

Superannuation Tax On Balances Above $3m Worse Than Thought

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Jul 17, 2024  · Many investors and advisers have complained about the nature of the so-called “wealth tax” which adds another 15 per cent tax to the earnings of balances above $3m in …

heraldsun.com.au

$3m Super Tax: It’s Simpler Than You Think - Financial Review

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Jun 3, 2024  · In Bill’s case it’s simple : $8 million less $7 million = $1 million. In Ben’s case it’s slightly more complex: $3 million (what he had at the end) plus $5 million (adding back his ...

afr.com

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