Episode 101 - New Div 296 rules introduced into Parliament

Описание: In this episode of Feeling Smarter, Aaron Dunn and Tim Miller continue their dive into Division 296, with the the introduction of the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026. Introduced by Treasurer Jim Chalmers on 11 February 2026, this legislation marks a significant shift in how high-balance super accounts are taxed and how low-income earners are supported.

Tim and Aaron discuss elements of the Bill and explore how the government has adjusted the original exposure draft after a short (and somewhat holiday-interrupted) consultation period.

Timestamps:
1:10 – The consultation period: Comparing the "short" timeline to the typical industry standard.
2:45 – Division 296 & Death: How the Total Super Balance (TSB) is calculated in the year of death.
4:30 – Starting vs. Ending Balance: Clarifying the new rule where TSB effectively "dies with you."
6:20 – Reversionary Pensions: Managing multiple liabilities and the impact on surviving spouses.
8:30 – The Realised Gains Shift: Why the move away from taxing unrealised "paper" gains is a win for SMSFs.
10:40 – Indexation: Understanding how the $3M and $10M thresholds will now rise with inflation.
12:05 – Legislative Path: Discussion on Labor’s control of the House and the upcoming Senate battle.
13:30 – LISTO Expansion: The trade-off for low-income earners to secure the bill's passage.
15:00 – The "Bargaining Chips": Potential Greens’ requests involving limited recourse borrowing or other super policies.
16:00 – Conclusion: Implementation countdown to 1 July 2026.