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After months of debate, the Federal Government has passed Division 296 legislation introducing additional tax on large superannuation balances from 1 July 2026. Individuals with balances above $3 million may face extra tax on earnings attributed to the excess amount. With the rules approaching, now is the time to review how this may impact your retirement strategy, wealth structures, and estate planning.
March is the ideal time for Australian business owners to begin proactive tax planning before the 30 June EOFY deadline. With real financial data available and time still on your side, strategic decisions around structure, superannuation, assets, and tax concessions can help you minimise tax and improve cash flow outcomes.