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Assuming unrealised is required, and capital is required, and gains is required, the following 71 results were found.

  1. Super tax changes and SMSFs

    is that the tax will only be calculated on income, and not assets. Initially the government had planned to tax unrealised capital gains but this aspect of the proposal has fortunately not made it into the final legislation. Instead, SMSFs can opt in to...

  2. SMSFA urges Senate to reject super tax legislation

    since this tax proposal was first mooted in early 2023, it seems determined to press ahead with the taxation of unrealised capital gains that will be disastrous for thousands of primary producers and small and family businesses who will be impacted.”...

  3. SMSFA urges Senate crossbench to halt ‘flawed’ super tax bill

    superannuation trustees have a legislative obligation to keep sufficient liquidity and therefore the taxation of unrealised capital gains should not be a liquidity concern lacks commercial realism. “It is completely unreasonable to expect trustees, when...

  4. SMSFA still hopeful Div 296 bill may include amendments

    from across the community come out and express their concerns about this tax, about the implications of taxing unrealised capital gains,” he said. “We know the Prime Minister prides himself on his willingness to listen, so I’m still optimistic that they...

  5. SMSFA says it is time for government to take Div 296 ‘off the table’

    said. “It’s fair to say that we had significantly underestimated their willingness to vote against a tax on unrealised capital gains and also to vote against a tax that had been designed for the large funds with no regard to the carnage that would have...

  6. SMSFA hits back at Chalmers over div 296 consultation claims

    “In some parts of the superannuation system deemed income rates are applied which differ fundamentally from taxing unrealised capital gains,” Burgess explained. “By drawing a parallel between these distinct approaches, the statement confuses the public...

  7. SMSFA encouraged by talk of a deal over super tax

    would be open to discussions on alternative super tax reform if the government walked away from its plans to tax unrealised capital gains. “There’s no doubt in opposition, we will be constructive where we can, but critical where we must, and when it...

  8. SMSFA calls for urgent action on flawed super tax amid growing panic selling

    said a critical flaw in the proposed tax is its calculation of investment earnings, which inexplicably includes unrealised capital gains — penalising SMSF members for paper profits that may never materialise. “No one disputes Treasury’s desire for a...

  9. Senate committee gives $3m super tax bill the green light

    to be responsible for setting this threshold, which is a common feature of the tax system." On the taxation of unrealised capital gains, the committee stated it understands views shared by inquiry participants but believes, on the balance of evidence,...

  10. Revised Div 296 bill passes lower house

    some of the more controversial elements of its previous bill in the new legislation, such as the taxation of unrealised capital gains and the absence of any indexation for the thresholds. The new version of the bill contains a different calculation for...

  11. Main residence exemption myths and misconceptions

    The surge in the residential property market continues to attract buyers and sellers, many involving the family home. This article considers the common myths and misconceptions when it comes to being eligible for the main residence exemption. When it...

  12. Lowering Div 296 to $2m will impact 1.8m: analysis

    ATO and reveals 47,860 people aged between 55 and 59 will pay 30 per cent total tax on their super earnings and unrealised capital gains if the threshold is lowered. Additionally, nearly 800,000 people under 30 years old would also be impacted by the...

  13. Labor’s tax policy to spur SMSF structuring rethink

    Accountants servicing SMSF clients may have to rethink their approach to structuring funds if Labor’s plans for the removal of excess dividend imputation credits kick in, a lawyer predicts. Speaking in a seminar, DBA Lawyers senior associate William...

  14. Joint bodies fight for crucial changes to $3m super tax bill

    issues before the bill is legislated. The joint bodies have previously expressed concerns about the taxation of unrealised capital gains under the measure due to the proposed calculation for the new tax and the absence of indexation. “The calculations...

  15. Industry groups urge major parties to rule out taxing unrealised gains

    the political and economic damage such a policy would cause – no such commitment has been made on taxing unrealised capital gains.” It continued that as the Division 296 is still a threat, if it is passed it will set a “dangerous precedent". “Once...

  16. Independent MPs demand urgent changes to $3m super tax reforms

    for the $3 million superannuation tax. Eight independent MPs have united to oppose the "egregious proposal" to tax unrealised capital gains as part of the government's Better Targeted Superannuation Concessions and Other Measures bill. The bill,...

  17. IFPA calls for sweeping changes to Division 296 tax

    that Division 296 should not be legislated in its current form. The IFPA has urged the government to remove unrealised capital gains from the calculation of earnings and use actual taxable income and earnings as a measure of earnings. IFPA head of...

  18. How to plan inheritance fairly where children live abroad

    best explained using an example. Consider Jenny, whose estate is worth $2,000,000, which includes $1,000,000 in unrealised capital gains. Jenny wishes to distribute her estate equally between her two children – Scott and Charlotte – upon her death....

  19. Greens in discussions with Labor over Div 296 tax

    of the deal. However, the Treasurer stated on Wednesday that Labor intended to proceed with its plans to tax unrealised capital gains. “The unrealised capital gains calculation was recommended to us by Treasury. We provided years of opportunities for...

  20. Government’s super tax reforms ‘modestly’ reduce tax concessions: Assistant Treasurer

    with excessively large superannuation balances and the solution, which is currently before parliament that taxes unrealised capital gains, is not the answer.” Super concessions to exceed age pension On Tuesday, Minister Jones said the cost of...

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