News : Division 296

Dilemma raised by Div 296 reporting

August 18, 2026

The obligations to report Division 296 earnings on the SMSF annual return are likely to present a quandary for trustees now and in the future.

August 11, 2026

Tax-effect accounting should be more seriously considered to allow a more accurate calculation of a person’s TSB for Division 296 purposes.

August 4, 2026

More specificity has been provided in the final Division 296 regulations with regard to the need to obtain an attribution certificate for earnings.

July 28, 2026

Arrangements to facilitate family law splits upon relationship breakdowns may need reworking in light of the introduction of the Division 296 tax.

June 23, 2026

The full impact of the Division 296 tax will only be observed when SMSFs experience significant capital gains from fund assets.

June 16, 2026

The decision as to whether to use the Division 296 CGT cost base adjustment should be automatic if an SMSF portfolio is reflecting a net gain.

May 19, 2026

The 2026 federal budget has inadvertently provided SMSF trustees with a clearer direction as to the management of Division 296 tax liabilities.

April 7, 2026

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear.

March 24, 2026

Draft regulations that will work in conjunction with the Division 296 tax legislation have been released with industry consultation being sought.

March 24, 2026

Actuarial certificates will play a key role in determining how much SMSF members will pay under the Division 296 tax.