Treasury Laws Amendment (Building a Stronger and Fairer Super System) Act 2026 (8 of 2026)

Schedule 1   Better targeted superannuation concessions

Income Tax Assessment Act 1997

23   Subsection 995-1(1)

Insert:

assessed Division 296 tax means *Division 296 tax, as assessed under Schedule 1 to the Taxation Administration Act 1953.

deferred to a Division 296 debt account , for a *superannuation interest, in relation to *assessed Division 296 tax, has the meaning given by section 134-10 in Schedule 1 to the Taxation Administration Act 1953.

Division 296 debt account has the meaning given by section 134-60 in Schedule 1 to the Taxation Administration Act 1953.

Division 296 debt account discharge liability has the meaning given by section 134-120 in Schedule 1 to the Taxation Administration Act 1953.

Division 296 deferral reversal , for a *superannuation interest, has the meaning given by section 134-20 in Schedule 1 to the Taxation Administration Act 1953.

Division 296 end benefit has the meaning given by section 134-130 in Schedule 1 to the Taxation Administration Act 1953.

Division 296 excluded interest has the meaning given by subsection 296-55(3).

Division 296 fund earnings has the meaning given by section 296-60.

Division 296 tax means tax imposed by the Superannuation (Building a Stronger and Fairer Super System) Imposition Act 2026.

Division 296 tax law means:

(a) the Income Tax Assessment Act 1997, so far as it relates to the *Division 296 tax; and

(b) any Act that imposes Division 296 tax; and

(c) the Taxation Administration Act 1953, so far as it relates to any Act covered by paragraphs (a) and (b) (or to so much of that Act as is covered); and

(d) any other Act, so far as it relates to any Act covered by paragraphs (a) to (c) (or to so much of that Act as is covered); and

(e) regulations and other legislative instruments under an Act, so far as they relate to any Act covered by paragraphs (a) to (d) (or to so much of that Act as is covered).

large superannuation balance threshold has the meaning given by section 296-30.

relevant superannuation earnings has the meaning given by sections 296-65 and 296-70.

taxable superannuation earnings has the meaning given by section 296-40.

total superannuation earnings has the meaning given by section 296-55.

very large superannuation balance earnings component has the meaning given by section 296-45.

very large superannuation balance threshold has the meaning given by section 296-35.