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

Schedule 1   Better targeted superannuation concessions

Taxation Administration Act 1953

72   At the end of section 131-15 in Schedule 1

Add:

Issuing if you have an unpaid amount of assessed Division 296 tax that is not deferred to a Division 296 debt account

(5) If:

(a) for an income year, you are given a notice of assessment of an amount of *Division 296 tax that is not *deferred to a Division 296 debt account for a *superannuation interest; and

(b) on the 84th day after the day the Commissioner issues that notice, the sum of the following falls short of that amount of tax:

(i) any payments of that tax for the income year that you have already made;

(ii) any amounts that have already been released under this Subdivision for that assessment;

the Commissioner may issue a release authority to one or more *superannuation providers that hold superannuation interests for you.