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Division 296 Tax: the Proposed $3m Super Tax

20-Nov-2023 17:55 | Cassidy Lau (Administrator)

The Federal Government plans to reduce concessions for individuals with superannuation balances over $3 million, introducing an additional 15% tax on their superannuation earnings if the draft legislation is passed. Our friends at William Buck have summarised the proposed changes and what they mean for your superannuation and tax planning strategies.

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