WealthSuperannuation & SMSFsSuperannuationPrint articleWhat you’ll owe under new super tax if your balance hits $3.5mThere are nine key takeouts on how it will work, plus how to plan ahead to minimise the impact.Colin LewisContributorNov 9, 2023 – 5.00amSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginSuperannuation is the most tax-effective vehicle you can invest in. It stands head and shoulders above the next best tax structure, but this is about to change for the wealthy – the playing field will be levelled for those with high super balances.The government last month released draft legislation on the proposal it announced in February to impose an extra 15 per cent tax on “earnings” on balances greater than $3 million from 2025-26.Loading...Colin Lewis is head of strategic advice at Fitzpatricks Advice Partners.SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreSuperannuationSMSFsSmart InvestorAFR WeekendLatest In Superannuation & SMSFsFetching latest articlesMost Viewed In WealthThe Australian Financial Review MagazineSports stars keep shifting their watch brand allegiancesBani McSpeddenDark Emu beer with native grains at this destination breweryCrocs turn 23 years old. Time to grow up and get shoesBOSS Financial ReviewFour women who started businesses after the age of 45Sally PattenWhat happened when Domain learnt it spent $36m a year on meetingsThe country’s highest-paid directors revealedLife & LeisureA backyard beehive and an on-trend merino sweater to wear this winterEugenie KellyWill BMW’s Neue Klasse range be the game-changing EVs they promise?The Australian gallery that made art fun turns 20Rich ListProperty billionaire Nick Andrianakos dies in GreeceYolanda RedrupCannon-Brookes describes ‘deep internal conflict’ over his private jetOscar Piastri on the secret of his $41m-a year success
