Future earnings for super balances above $3m taxed at 30% from 2025-26

The Government has announced that from 2025?26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%.

The concessional tax rate on earnings from superannuation in the accumulation phase will remain at 15% up to $3m. From $3m onwards, the rate will increase to 30%. The amendment applies to future earnings; it is not retrospective.

80,000 people are expected to be impacted by the measure.

The announcement doesn’t propose any changes to the transfer balance cap or the amount that a member can have in the tax-free retirement phase.

Should you have any questions regarding the above, please don’t hesitate to contact our team at: support@cotchy.com.au.

 

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