The Age
·general
·2 hours ago
Government taxes superannuation balances exceeding $3 million from July 2026
Australia's government will tax superannuation balances above $3 million from July 2026. Self-managed super funds can reset asset cost bases to June 30, 2026 market values to avoid the Division 296 tax on past growth. The election must be made by the fund's tax return due date, but trustees need accurate valuations much earlier to decide whether to participate.
Summary by Glance · The Age
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