Can anyone explain Div 293 tax? Does it matter if you don't exceed or match your concessional cap for the year? what happens if you match your confessional cap for the year and also utilise carry forward concessional contributions, does that have an impact?
I've read a fair bit on it, but it seems quite confusing. I basically understand it as simply if you earn over $250k i.e. $260k (before super) you will pay an additional 15% on the difference i.e. $1500 tax ($10k x 15%) but how does it all relate to actual concessional contributions made (both employee and tax-deductible concessional payments and carry forward catch ups), or is it purely based on your income?
