Top 6 Things You Should Know About the Division 293 Tax
Announced in the 2012 Federal Budget, is the taxation regime known as Division 293 Tax. This tax is imposed on the concessional superannuation contributions of those whose income plus superannuation contributions taxed at concessional rates exceeding $250,000 from 1 July 2017 (formerly $300,000). If you fall into this category in a given tax year you are liable to pay this tax.
The way in which this tax is calculated can be quite complex. As such the purpose of this eBook is to cover how liability for this tax is determined and calculated. If you think that you fall into the demographic liable to pay this tax, we would strongly urge you to download this eBook and receive financial advice to help clarify your position as far as this tax is concerned to assist you in devising strategies to minimise its impact on your bottom line.
By the end of the book, this is what you will know:
- Who is liable to pay Division 293 Tax?
- How is the Tax Calculated?
- What will the likely impact of the Division 293 tax be on your financial position?
- The Implications of the Division 293 Tax for Low and Middle Income Earners
- Types of Division 293 Assessments
- Paying Your Division 293 Tax Assessment