Superannuation tax changes demand accurate property asset valuations
Changes to taxation laws around high superannuation balances mean property investors need to get accurate property valuations to avoid potentially costly entanglements with the ATO.
Major changes to superannuation taxation brackets places a whole new degree of emphasis on accurate property valuations. (Image source: Shutterstock.com)
Whether you agree or disagree with the proposed new tax on superannuation balances over $3 million, one thing is certain: if it becomes law, it will need to be paid.
Regardless of fairness debates, what you can control is how accurately your assets are valued.
The Federal Government’s proposed Division 296 tax would apply an additional 15 per cent tax on the portion of super balances exceeding $3 million, including unrealised capital gains
. While…
