With the 2025 Federal Election having run its course and the Labor party being voted back in for a second term, we can now look at what this means for you and your SMSF.
What policy promises were made and what is now off the table?
Labor promises and policies
Increase tax on members with $3 million-plus in super
The Labor party was noticeably clear on their intent to push ahead with the doubling of the tax rate on super fund earnings if they were returned to power.
These Division 296 tax measures effectively double the tax rate on super fund earnings from 15% to 30% for members with total super balances that exceed $3 million.
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