Division 293 Tax Calculator

Calculate Division 293 tax on excess low-tax taxed contributions for high-income earners.

Division 293 Tax Calculator

ITAA 1997 Division 293 Standards

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* Calculations based on ITAA 1997 Division 293. Results are for illustrative purposes.

* Division 293 tax is 15% of the excess low tax taxed contributions above $1.6 million.

* This tax is paid by the SMSF (not the member).

Understanding Division 293 Tax

What is Division 293 Tax?

Division 293 tax is an additional 15% tax on low-tax taxed contributions (concessional contributions and certain amounts) that exceed the Division 293 threshold. It applies to high-income earners to ensure they pay more tax on their super contributions.

How It Works

  • Threshold for 2024-25: $1,600,000
  • Tax rate: 15% on excess low-tax taxed contributions
  • Liability is generally paid by the individual
  • Can be paid from super fund or personally

Low-Tax Taxed Contributions Include

  • Employer contributions (SG and salary sacrifice)
  • Personal deductible contributions
  • Notional earnings on defined benefit interests
  • Certain fund amounts transferred from overseas

Planning Considerations

  • Monitor income and contribution levels
  • Consider timing of contributions
  • Evaluate non-concessional contribution strategies
  • Review salary sacrifice arrangements

Important: This calculator is for illustrative purposes only and does not constitute legal or financial advice. For professional advice regarding your specific circumstances, please consult with a qualified SMSF adviser or accountant.