Project update
The primary legislation for Division 296 (Div 296), also known as the 'Better Targeted Super Concessions measure' received Royal Assent on 13 March 2026.
Treasury’s consultation on the Building a Stronger and Fairer Super System Act 2026- Draft Regulations ended on 7 April 2026. The Regulations have not been finalised yet.
The Australian Taxation Office (ATO) has prepared general communications, including articles for self-managed super funds (SMSF) news and Super News. Development of ato.gov.au web content is in progress with publication dependent on finalisation of the regulations.
The design of how funds will report Div 296 information to the ATO has not changed:
- Australian Prudential Regulation Authority regulated funds will respond to ATO requests for Div 296 tax information for in scope members via Online services for business.
- SMSFs will report the required Div 296 information through the SMSF annual return from the 2026-27 income year for in scope members.
Div 296 notice of assessment feedback
Draft Div 296 tax notice of assessment was shared with group members with feedback provided.
Group workshop preparation
A face-to-face workshop for the group is being held in mid-April 2026 to discuss the new legislation and draft regulations, and to detail the challenges and considerations of the new law.
Discussion included how the workshop and agenda would be structured to ensure the topics met the needs of the group.