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Div 296 is now law – what you need to know before it starts on 1 July 2026

19 Mar 2026
After a long journey from when the Federal Government first announced this measure in early 2023, the Government’s ‘Building a Stronger and Fairer Super System’ measure - commonly called Division 296 tax - has completed its parliamentary passage, received Royal Assent on 13 March 2026 and will commence on 1 July 2026. For SMSF trustees and practitioners this change is significant: it alters how certain superannuation earnings will be taxed and triggers a number of practical compliance and planning issues you should address before the measure starts.
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Division 296 Draft Regulations: What They Mean for SMSF Trustees and Actuaries

18 Mar 2026
Today Treasury released the draft regulations supporting the Building a Stronger and Fairer Super System Act 2026, the legislation that gives effect to the Division 296 tax, with submissions due by 7 April 2026. For advisers and accountants with clients approaching or above the $3 million total superannuation balance threshold, this is an important development, and one that we have been closely tracking.
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The Division 296 tax do-over 

8 Jan 2026
On what was the last business day for many firms before they closed for two weeks (Friday 19 December 2025) for the Christmas/New Year break, Treasury released the Bill for the revised Division 296 — Better Targeted Superannuation Concessions measure. They also advised that the consultation period for the revised Bill would close on January 16, 2026. With such timing, those of my era would have thought that someone had been watching an episode of Yes Prime Minister and would have also expected the expulsion of 76 foreign diplomats (For those interested: Series 1, Episode 8, “One of Us”).
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Government announces changes to Div 296

16 Oct 2025
On 13 October 2025 the Federal Treasurer announced substantial changes to the proposed Division 296 measure. The Government has moved from a total superannuation balance change methodology to a fund level realised earnings approach, introduced a second (higher) threshold at $10 million, indexed both thresholds, and deferred commencement to 1 July 2026 to allow consultation and implementation work.
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The Risks and Realities of Retrospective Law: Division 296 and the Superannuation Confidence Dilemma

18 Aug 2025
As debate resumes post-election, Australia’s proposed Division 296 measure, which introduces an additional 15 per cent tax on superannuation earnings for total balances exceeding $3 million, remains in limbo.
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Timing is Everything: When Should SMSFs Adopt Tax Effect Accounting for Division 296?

15 Jul 2025
With the anticipated introduction of the proposed Div 296 tax, SMSF trustees and their advisers face significant new considerations for the 2025–26 income year and beyond. The Div 296 tax is set to impose an additional 15 per cent tax on individuals whose total superannuation balance exceeds $3 million, based on the movement in that balance between 30 June 2025 and subsequent 30 June dates. This measure squarely puts the spotlight on how SMSF member balances are determined and reported, and the timing of any transition to tax effect accounting becomes critical.
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LRBA Safe Harbour Interest Rate Update: What SMSF Trustees and Advisers Need to Do for 2025–26 

23 Jun 2025
The updated safe harbour interest rates for Limited Recourse Borrowing Arrangements (LRBAs) for the 2025–26 income year have been published by the Reserve Bank of Australia (RBA) and we expect the ATO’s website will soon be updated to include the new rates.
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Division 296 tax: Why the industry’s objection is it’s not just about the wealthy

11 Jun 2025
Much has been made of the Government’s proposed introduction of Division 296, which would pare back tax concessions for those with superannuation balances over $3 million. The headlines have largely pitched the debate as industry ‘defending the wealthy’the subtext being that objection to the measure is simply about protecting privileged interests.
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When $9 million doesn’t trigger Division 296: The Carlos conundrum

11 Jun 2025
Much of the debate surrounding the proposed Division 296 tax has focused on the headline threshold: individuals with more than $3 million in their Total Superannuation Balance (TSB) will face an additional 15% tax on part of their superannuation earnings.
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Why Division 296 tax is not just a 30% tax: Breaking down the math misconception 

10 Jun 2025
The proposed Division 296 tax regime has sparked significant discussion, and a fair amount of confusion - around its impact on high-balance superannuation members. One persistent myth is that individuals with more than $3 million in their Total Superannuation Balance (TSB) will simply pay ‘30% tax’ on their super earnings.
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Don’t be wound up over winding up an SMSF

8 Feb 2024
For many individuals, a Self-Managed Superannuation Fund (SMSF) is a vital component of their retirement savings strategy. However, there comes a time when one must consider winding up their SMSF, whether due to reaching a certain age, changing circumstances, or simply that the SMSF no longer suits their needs.
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NALE legislation introduced: Relief for general expenses

15 Sep 2023
Long awaited changes implementing a cap on the amount of NALI arising from a general NALE has been introduced into Parliament. This blog outlines key aspects of the proposed relief.
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