From 1 July 2012, Division 293 tax will be applied to certain superannuation contributions to reduce the concessional tax treatment of these contributions made for very high income individuals.
The high income threshold is $300,000.
An individual’s income is added to certain superannuation contributions and compared to the high income threshold.
Div 293 tax is payable at a rate of 15%, on the excess over the threshold or on the superannuation contributions – whichever is less.
PO Box 105 Bentleigh VIC 3204
If you would like to have an initial consultation about your SMSF requirements, please get in touch.
The SMSF Accountant is a CPA practice
Limited liability by a scheme approved under Professional Standards Legislation
* Client stories are true and correct but details have been changed and stock images used for privacy reasons
Limited liability by a scheme approved under
Professional Standards Legislation