After more than three years of stonewalling, spinning, and trying to ram this through, the Treasurer has finally been forced to back down on part of his new superannuation tax.
- Only realised gains will be taxed — not unrealised ones.
- The $3 million threshold will be indexed.
- A new $10 million tier will be introduced, taxed at 40%.
- Implementation delayed until July 2026.
Superannuation is all about long-term retirement planning, and any tinkering with superannuation rules is simply bad news, but taxing unrealised gains was sheer madness! Let's see how these new rules work out in practice, but at least taxing unrealised gains has been knocked on the head, and the whole thing delayed until next year's tax. Thank you!
As usual, the devil is in the detail as set out in this article: click here. Should you need help with your super, I highly recommend SuperHelp. They have been my own SMSF's accountants and auditors since 2007.
