Super workarounds: what to do with $3m-plus balances

Another option is establishing or growing private investment companies. While these attract a higher tax rate than SMSFs – earnings are taxed at the company rate of 25 per cent to 30 per cent – the … See more

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Super Workarounds: What To Do With $3m-plus Balances

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New $3m Super Cap So ‘annoying’ That Wealthy Will Move Money Out

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May 10, 2023 · Super that makes up a member’s total super balance is important to calculate whether there is an entitlement to make non-concessional (or after-tax) contributions to super, …

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The Australian Financial Review On LinkedIn: Super Workarounds: …

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Treasurer Jim Chalmers has announced plans to tax earnings on large superannuation balances at 30 per cent. Here's what you can do with a $3 million-plus super balance. Super …

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Anne-Marie Tassoni On LinkedIn: Super Workarounds: What To Do …

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Treasurer Jim Chalmers has announced plans to tax earnings on large superannuation balances at 30 per cent. Here's what you can do with a $3 million-plus super balance.

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What To Do Now To Beat $3m Super Cap - Heffron

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How To Tackle Distributions With A $3m Super Fund - Financial Review

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Jun 16, 2023 · Where a fund has a $5 million total super balance as a current year amount, which is $2 million more than $3 million, the 40 per cent proportion this represents when applied to …

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I Made An Infographic To Help Illustrate Who The Changes To

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The AFR today: Super workarounds: what to do with $3 million-plus balances Choices range from setting up a family trust or transferring savings into kids’ superannuation accounts to moving …

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New 15% Tax On $3m+ Member Super Balances - SMSF Adviser

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New 15% tax on $3m+ member super balances – exposure draft legislation now issued as Div 296 tax . strategy . By Daniel Butler, DBA Lawyers. ... The reduced rate will be the base …

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Do You Support Capping Super Balances At $3m? : R/fiaustralia

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The rule of thumb is that a $1.5m super balance in pension mode pays $100k per year tax free. The tax forgone on that $100k is roughly equal to the pension. So charging normal or tiered …

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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 …

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Labor To Reduce Tax Concessions For Super Balances Above $3m

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Mar 1, 2023 · The Government has proposed changing this tax treatment, but only for members with large balances. Specifically, the tax rate applied to earnings on balances above $3m will …

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What To Do Now To Beat $3m Super Cap - Financial Review

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Mar 8, 2023 · Opinion. What to do now to beat $3m super cap. One important action is taking steps to even up the balances held by couples. Meg Heffron Contributor

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The New 15% Tax On $3M+ Member Total Super Balances - SMSF …

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Apr 24, 2023 · The new 15% tax on $3M+ member total super balances – a tax analysis. The new 15% tax on $3M+ member total super balances – a tax analysis . strategy . By Daniel Butler. …

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Govt Opens Consultation On $3m Super Balance Tax Changes

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Mar 31, 2023 · The Government has released the consultation paper for ‘better targeted superannuation concessions’ following its announcement last month to double the …

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

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May 12, 2023 · This is how you’ll be taxed if your super balance is over $3m. ... Ray’s total super balance (TSB) grew from $2.9 million on June 30, 2025, to $3.3 million on June 30, 2026. …

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FAQs about Super workarounds: what to do with $3m-plus balances Coupon?

Can super savers avoid $3M tax?

Savvy super savers will avoid the $3m threshold. Here’s how An additional 15 per cent tax on super balances over $3 million will invariably shift investor behaviour. 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 mid-2025. ...

What if my super balance is less than 3 million?

If your opening total super balance is $2.95 million, after 7 per cent annual growth, paying a pension and an additional withdrawal, your closing balance at the end of the year should be less than $3 million, so the new tax won’t apply. However, this is entirely dependent on your personal tax profile and there is an eventual tipping point. ...

How will Sam's super balance be taxed?

In contrast, the earnings calculated for this new tax will include part of both the dividends and the growth. It’s worth bearing in mind that we wouldn’t see the full $1000 being taxed. If Sam’s super balance were $4 million, only 25 per cent would be taxed (he exceeds the $3 million cap by $1 million which is 25 per cent of his total balance). ...

What if Sam's super balance was 4 million?

If Sam’s super balance were $4 million, only 25 per cent would be taxed (he exceeds the $3 million cap by $1 million which is 25 per cent of his total balance). But it’s certainly true that the earnings on which his tax would be based includes growth in assets that the fund hasn’t sold. ...

What is the tax rate for Super balances over $3 million?

With this reform, the headline tax rate for super balances exceeding $3 million would stand at 30 per cent, up from 15 per cent. It would apply from 2025-26 and affect less than 80,000 people, according to Treasury. It was expected to bring in approximately $2 billion in additional tax over four years. ...

How many people in Australia have a super balance?

Based on Australian Tax Office statistics for self-managed superannuation funds, I estimate 50,000 to 60,000 people have a super balance of between $3 million and $4 million who are quite apprehensive of the new tax. Investors will strategically manage their super to stay below the threshold. Tanya Lake ...