This calculator is intended to provide an illustration of the impact of the proposed Division 296 tax on unrealised gains on superannuation balances over $3 million, likely to pass in Australian parliament in 2025.
Important: Take special note of the underlying assumptions:
Important: Take special note of the underlying assumptions:
- This is designed for individuals yet to reach preservation age and wish to calculate the impact of Div 296; it is not intended for those already retired.
- Preservation age is 60.
- The lump sum will be entirely withdrawn at age 60.
- Superannuation guarantee is 12%.
- Annual contributions included at the beginning of the period.
Division 296 Tax Calculator
| Age | Opening Balance | Contribution | Investment Return | Div 296 Tax | Closing Balance |
|---|
Summary
Balance Without Tax
$0
Balance With Tax
$0
Tax Paid
$0
Opportunity Cost (Gains Erased by Tax)
$0
Percentage of Portfolio Eroded
0%
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