Division 293 Tax
Division 293 tax penalises individuals on Super contributions made where their taxable income is greater than the Division 293 threshold. Division 293 tax is payable on the excess over the threshold, or on the super contributions, whichever is less.
Put another way, Division 293 tax is an additional tax on super contributions which reduces the tax concession for individuals whose combined income and contributions are greater than the Division 293 threshold. From 1 July 2017 the Division 293 threshold is $250,000. Prior to this it was $300,000. Division 293 tax is currently charged at 15% of an individual’s taxable contributions.
Table 7: Division 293 threshold
2012–13 to 2016–17
Date of Issue: 28 October 2019 Author: Noé Vicca
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