We invite feedback on the draft regulations and explanatory material for the Government’s Better Targeted Super Concessions policy.
Background
The Treasury Laws Amendment (Building a Stronger and Fairer Super System) Act 2026 and the Superannuation (Building a Stronger and Fairer Super System) Imposition Act 2026 reduce the tax concessions for people with total super balances over $3 million.
They impose new taxes under a new Division 296 of the Income Tax Assessment Act 1997.
What the regulations do
The regulations support these laws by setting out detailed rules on how the new tax will work.
The regulations will:
• explain how super funds will attribute fund earnings to individuals
• set out how to calculate earnings for defined benefit interests
• specify the super interests that are excluded from the policy
• explain how the tax applies in a person’s final year
• set the adjustment factors for capital gains tax for large super funds.
Included is a letter from the Australian Government Actuary setting out the recommended reduction factor for calculating earnings for defined benefit and other prescribed interests.
Submit your response
You must submit your response on this website.
Before you submit
To help you prepare your response, we recommend that you:
- read the supporting documents
- prepare your response in Word (DOCX or RTF) format, you can also upload PDF files as an alternative
- read our submission guidelines
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