Div 296 tax is now law: What it means for your super
Welcome to the April edition of our client newsletter. This month, we’ve compiled a selection of timely and practical insights across tax, superannuation and financial planning — helping you stay informed, confident, and in control of your financial decisions.
In this edition:
1. Division 296 tax is now law: what it means for your super. The new Division 296 tax is now in effect for individuals with super balances of $3 million or more from 1 July 2026. We break down how this measure works and what it could mean for your retirement savings.
2. Granny flats – be aware of the CGT consequences Granny flat arrangements are becoming more common, but they can come with unexpected tax consequences. We outline the key CGT issues you should be aware of before entering into an arrangement.
3. Higher super contribution caps from 1 July 2026: what it means for you
Contribution limits are increasing from 1 July 2026, creating new opportunities to grow your super. We explain the changes and how you may be able to take advantage of them.
4. Capital gains tax (CGT) still applies even if you’re forced to sell an asset
Being required to sell an asset doesn’t mean you’re exempt from CGT. We explain how CGT can still apply and what to consider in these situations.
5. Car logbooks: Back to basics
Three recent cases have put the spotlight on car expense claims, reinforcing the need for accurate and compliant logbooks. We explain the key requirements and common pitfalls to avoid.
Bonus reads this month:
Illegal early access to super: what SMSF trustees need to know
SMSF trustees have strict obligations to comply with superannuation laws. Accessing super early without meeting the conditions can lead to serious penalties. We explain the risks and responsibilities involved.
The super number that shapes your contribution strategy
Your ‘total super balance’ plays a crucial role in determining which contribution strategies are available to you. We explain why this figure matters and how it can influence your planning.
We hope you find this edition informative and valuable. As always, if you have any questions or would like advice tailored to your circumstances, please don’t hesitate to get in touch.
We hope you find this edition informative and valuable. As always, if you have any questions or would like tailored advice, please don’t hesitate to get in touch.
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2026 – 04 – MBS Monthly Update