Division 293 Tax

Division 293 tax is an additional tax on super contributions, which reduces the tax concession for individuals whose combined income and contributions are greater than the Division 293 threshold.

Currently, the Division 293 threshold is $250,000. 

Division 293 tax is charged at 15% of an individual’s taxable contributions, on top of the normal 15% contributions tax paid on concessional contributions when they enter your super account.

The ATO will work out if you need to pay Div 293 tax based on information in your tax return and data they receive from your super fund(s). They will issue you with a notice of assessment stating the amount of tax payable and provide an authority to enable your super fund to release the money. You can, however, pay the tax from your non-super savings.