Webinar Video: New 30% Tax On Super Balances Over $3M

Your Questions Answered on the Proposed 30% Tax on Super Balances over $3M

The Government is reducing the tax concessions available to individuals whose total superannuation balances exceed $3 million. Individuals with balances over this threshold will be subject to an additional tax of 15 per cent on the earnings on any balance that exceeds the $3 million threshold.

This change will bring the tax rate on earnings, corresponding to that proportion of the balance greater than $3 million, to 30 per cent.

In this Webinar, Wilson Pateras’ Principal Mark Forte and Senior SMSF Manager, Nilay Shah discussed:

  • What are the current rules in relation to the new $3M super cap?
  • Proposed tax on $3m super balances
  • Calculation Method of earnings on any balance that exceeds the $3 million threshold
  • What are the concerns or challenges and the matters that should be considered

For further enquiries, please contact Wilson Pateras on 03 84199800 or www.wilsonpateras.com.au.

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