Division 293 explained (with real examples) #money #superannuation #taxes #retirementplanning

💥 High income + super contributions? Here’s the “rude shock” many Aussies hit near $250k… 👇

✅ Concessional super contributions (employer SG, salary sacrifice, personal deductible contributions) are one of the BEST tax strategies in Australia 💰📉 — as long as you stay within the concessional cap (currently $30,000 p.a.) 🧾✅

BUT… once your income gets high enough, an extra tax can apply: ⚠️
📌 Division 293 tax (Div293)

🧠 KEY POINT:
That “$250,000” threshold isn’t just your wage.
It’s your **income + concessional super contributions**.

So you can earn “under” $250k and STILL get hit if super tips you over the line 😬

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📌 How Div293 is calculated (the simple rule)
If your total is over $250k, you pay an extra 15% tax on the LOWER of:

1️⃣ Your concessional contributions for the year (the “super” amount), OR
2️⃣ The amount you’re over $250k

👉 Whichever is LOWER gets taxed at an extra 15% ✅

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🧾 EXAMPLE 1 (just over the line)
👔 Salary: $240,000
🏦 Employer SG (12%): $28,800
📊 Total for Div293: $268,800

That’s $18,800 over $250k 😬

✅ Div293 is calculated on the LOWER amount:
• Super contributed = $28,800
• Amount over $250k = $18,800 ✅ (lower)

📌 Extra Div293 tax:
$18,800 × 15% = **$2,820** 💸

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🧾 EXAMPLE 2 (way over the line)
👔 Salary: $400,000
✅ Concessional contributions (assume capped): $30,000
📊 Total: $430,000

You’re $180,000 over… but you DON’T pay 15% on $180k ❌

✅ You pay 15% on the LOWER amount:
• Super contributed = $30,000 ✅ (lower)
• Amount over $250k = $180,000

📌 Extra Div293 tax:
$30,000 × 15% = **$4,500** 💸

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📬 How do you pay it?
The ATO sends you the bill once they’ve got your tax return + your super contribution reporting 🧾📩
You can either:
💳 Pay it personally, OR
🏦 Release money from your super to pay it

And unfortunately… there’s no magic loophole 😅
Other than earning less (which usually isn’t the goal!) 🚀

⚠️ Important: If you’re near or above the threshold, making EXTRA concessional contributions (including catch-up/carry-forward amounts) might still be beneficial — but you want to run the numbers first 🔢✅

📩 Want help modelling your situation? DM me “DIV293” and I’ll point you in the right direction.

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📝 General info only, not personal advice. Everyone’s circumstances differ — seek tailored advice.
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Видео Division 293 explained (with real examples) #money #superannuation #taxes #retirementplanning канала Luke Dean