Superannuation, Tax Joseph Flanagan Superannuation, Tax Joseph Flanagan

The Impacts of Division 296 – Is it coming back?

While some industry voices call for a deferral, with Labor’s recent election win and more favourable senate, commentators have raised that it could be likely that the proposed Division 296 tax will commence on 1 July 2025.

Affected individuals should evaluate whether to act now or wait, depending on personal circumstances. Options include withdrawing super before or after the start date or doing nothing if modelling shows better long-term outcomes. Each option should be carefully considered based on individual’s financial situations.

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