296 is not TBC related.
296 is about a 15% penalty that is applied in addition to the existing tax rate applicable to a super account (makes no difference if that account is in accumulation or in pension phase).
what matters is a super balance of $3M to trigger the 296 penalty.
any talk about TBC is a red herring if talking 296.... nothing to do with 296.
- Forums
- Political Debate
- Emerging notion of Taxing of Capital Gains in Super Funds