Division 293 Tax: A Guide for High Earners
Adelaide News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
High-income Australians face a 15% tax on excess super contributions when income plus before-tax super contributions surpass $250,000. This Division 293 tax can be paid from personal funds or requested from the super fund. Those with self-managed super funds (SMSFs) must follow strict steps to avoid penalties, including lodging an election form with the ATO and waiting for official Release Authority before making payments.
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