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Exploring Division 296 alternatives that don't tax paper profits

Exploring Division 296 alternatives that don't tax paper profits

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In the latest episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn break down some of the alternative methods to remove concessions for large super balances without resorting to taxing unrealised gains, with a range of options being delivered in recent weeks.

The IFPA put forward compulsory cashing, while Geoff Wilson and Wilson Asset Management offered up a progressive super surcharge model, with both looking to meet the government’s stated aim for Division 296 in a manner that leaves unrealised gains untouched.

Listen as they discuss:

  • What is missing when the government talks about liquidity and diversity requirements for super funds that hold farmland.
  • The spike in SMSF-related complaints to AFCA, largely on the back of major financial failures like United Global Capital.
  • When Division 296 is likely to land back in parliament.
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