New Division 296 rules explained: Tax changes for large Superannuation balances
The Federal Government has now passed the Division 296 legislation, introducing an additional tax for individuals with total superannuation balances (TSB) above $3 million. Since the proposal was first announced in February 2023, several important changes have been made to the original design. The key updates include: 1. Removal of tax on unrealised gains Instead […]
Succession planning for small businesses
It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and navigating uncertainty, but the recent economic climate has dialled everything up. Many business owners face the uncomfortable position of having to remap carefully thought-out succession plans and exit strategies and to […]
