Post by InCorp Advisory Australia

Division 296 is no longer a proposal. It's law, and it starts on 1 July 2026. In her latest article, Helen McPhee, InCorp Advisory's Director of Superannuation, breaks down what trustees with large super balances need to know, and the decisions worth making before year-end. The new tax applies to total superannuation balances above $3 million, with a further tier above $10 million. First assessments will be based on your TSB at 30 June 2027, which means the planning window is open right now. A few things worth weighing up before 30 June 2026: ● The one-time election to reset your fund's asset cost bases to 30 June 2026 market value (for Division 296 purposes only) ● Compliant valuations on any unlisted or hard-to-value assets, an area set to draw ATO and auditor attention ● Whether realising capital losses before year-end suits your position These are decisions best made with time on your side. If your fund may be affected, now is the moment to review your structure, valuations and long-term strategy. Read Helen's full breakdown below, or get in touch with the InCorp Advisory team to assess where you stand: https://lnkd.in/g6CznHFj