The dreaded Division 293 tax

High-income earners need to be aware of an extra levy imposed on their superannuation contributions. The government introduced Division 293 tax to ensure that high-income earners don't enjoy disproportionate tax benefits from their super contributions compared with lower-income earners. By increasing the tax on super contributions for high earners to 30%, it aims to balance the tax benefits across income brackets. Matt Baczyk, Senior Manager in Barton’s Business Advisory and Tax team, and Adrian Guarino, Head of Strategic Advice and Senior Financial Advisor at Bartons, discuss strategies to effectively manage the impact of Division 293. BARTONS
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