Proposed additional 15% tax for earnings on super balances over $3 million from 1 July 2025 The Government recently announced proposed changes to impose an additional tax of 15% (the additional tax), increasing the original concessional tax rate from 15% to an effective new 30% rate, on earnings on total superannuation balances (TSB) over $3 million. […]
Archives for March 2023
Time changes for TBAR lodgments
From 1 July 2023, self-managed super funds (SMSFs) must report transfer balance account events by lodging a quarterly transfer balance account report (TBAR) – which is more frequent than what currently applies. The first quarterly TBAR report obligation will be due by 28 October 2023, to report all unreported events that occurred from 1 July […]