Contributions tax treatment for high income earners | Accurium

Technical article
As of 1 July 2012, individuals who earn at least $300,000 in income pay 30% tax on concessional contributions. This measure was originally announced as part of the 2012 Federal Budget and around 1% of people who contribute to superannuation were expected to be affected. The Division 293 tax aims to make the tax concessions fairer by reducing the tax concession received by very high income earners.