Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances
above $3m from 15% to 30% from 1 July 2025.
This is the final step before the legislation is introduced into Parliament and a step closer to reality. The draft legislation appears largely unchanged from the Government’s original announcement.
The proposed calculation aims to capture growth in total super balance (TSB) over the financial year allowing for
contributions (including insurance proceeds) and withdrawals. This method captures both realised and unrealised gains, enabling negative
earnings to be carried forward and offset against future years.
The ATO will perform the calculation for the tax on earnings. TSBs in excess of $3 million will be tested for the first time on 30 June 2026
with the first notice of assessment expected to be issued to those impacted in the 2026-27 financial year.
From a planning perspective, for those with superannuation balances close to or above $3m, it will be important to explore the implications
to your personal situation – there is no one size fits all strategy here and what is best for you will depend on your circumstances.
Superannuation, even with the increased tax, remains a tax efficient vehicle.
We provide strategic business and tax advisory, underpinned by our expertise in financial planning to ensure we develop financial structures that are smart and well considered.
Please note: This event is not until March 2027 — AI agent technology is moving fast, so the workshop content will continue to evolve to bring you the latest of what is happening in the AI agent space.
AI-Enhanced Automation for Accounting and Finance Professionals: Leveraging ChatGPT, Copilot & Claude for Innovation and
Productivity.
Join SkyBots’ 2-day Workshop in MORNINGTON with automation expert Daryl Aw to revolutionise your workflow using
cutting-edge Agentic AI tools including Chat GPT, Claude, CoPilot and Gemini. This workshop is built for accountants,
bookkeepers, finance teams, and business owners who want to move beyond basic prompts and turn AI into a reliable, ethical, and practical
system for everyday work.
Please note: This event is not until February 2027 — AI agent technology is moving fast, so the workshop content will continue to evolve to bring you the latest of what is happening in the AI agent space.
AI-Enhanced Automation for Accounting and Finance Professionals: Leveraging ChatGPT, Copilot & Claude for Innovation and
Productivity.
Join SkyBots’ 2-day Workshop in PERTH with automation expert Daryl Aw to revolutionise your workflow using
cutting-edge Agentic AI tools including Chat GPT, Claude, CoPilot and Gemini. This workshop is built for accountants,
bookkeepers, finance teams, and business owners who want to move beyond basic prompts and turn AI into a reliable, ethical, and practical
system for everyday work.
AI-Enhanced Automation for Accounting and Finance Professionals: Leveraging ChatGPT, Copilot & Claude for Innovation and
Productivity.
Join SkyBots’ 2-day Workshop in GOLD COAST with automation expert Daryl Aw to revolutionise your workflow using
cutting-edge Agentic AI tools including Chat GPT, Claude, CoPilot and Gemini. This workshop is built for accountants,
bookkeepers, finance teams, and business owners who want to move beyond basic prompts and turn AI into a reliable, ethical, and practical
system for everyday work.
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