What Does Division 296 Mean in Practice?

With Division 296 set to commence from 1 July 2026, many investors are asking the same questions: Should I leave money in superannuation? Should I take money out? And what planning opportunities should I be considering now?

In this excerpt from our recent Federal Budget analysis, Partner & Wealth Adviser Chris Morcom discusses the practical implications of Division 296 and the conversations currently taking place with clients.

While much of the public discussion has focused on individuals with superannuation balances above $3 million, the impacts may be broader than many realise. In particular, Chris highlights the importance of considering how changing circumstances, such as the death of a spouse, may affect superannuation balances and future tax outcomes.

Watch the video below as Chris shares his perspective on Division 296, the planning considerations investors should be aware of, and why a considered, long-term approach remains critical.