02/06/2026
Division 296, often referred to as the “$3 million super tax”, has created plenty of discussion... and understandably, plenty of questions too.
While the new rules are aimed at higher super balances, we believe this is something many Australians should still be paying attention to over time, particularly those with strong long-term investment growth or larger SMSF balances.
Importantly, the final legislation differs from the original proposal in a number of key areas, including how earnings are calculated and taxed.
On the Money Mindset blog, we break down:
🔶 What Division 296 is
🔶 Who may be affected now and in future
🔶 What changed from the original proposal
🔶 Why understanding the detail matters before reacting
Visit the Money Mindset blog via our Free Resources menu at amplifywealth.com.au to read more > https://www.amplifywealth.com.au/post/division-296-what-the-new-super-tax-means-and-who-it-affects