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Division 293 Tax and how it works

Staff Writer - 3 min read

06 May 2022

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If your income and concessional contributions are more than the $250,000 threshold, under the Division 293 tax rules you may have to pay an additional 15 per cent on some or all of your super contributions. This is on top of the normal 15 per cent tax paid on concessional contributions when it enters your super fund.

If your income indicates you’re above the threshold, the ATO will inform you once you lodge your tax return. Alternatively, discuss this with your accountant or tax advisers to ensure you’re aware of the circumstances for your personal situation.