division 293
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. Why do I have to pay this? Normally, contributions into a superannuation fund are taxed at 15% immediately. This is so when you turn 65 you will […]
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Have You Heard of Division 293? If your remuneration, including reportable fringe benefits and salary sacrificed superannuation contributions is in excess of $250,000 pa, you may have an additional tax liability over and above the normal income tax payable on such earnings due to Division 293. Now that would be a fairly substantial salary package, […]
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