Lowering the threshold of Division 293 tax

From 1 July 2017 the Australian Government is proposing to lower the Division 293 tax threshold from $300,000 to $250,000.

This means that if you have an adjusted taxable income of $250,000 or above, Division 293 tax will be charged at 15% on your concessional contributions above the $250,000 threshold from the 2017/18 financial year onwards.