ato logo
Search Suggestion:

Division 293 tax

Last updated 15 October 2023

Division 293 tax reduces the tax concession on super contributions for individuals whose income is greater than the Division 293 threshold.

Division 293 threshold

An individual's income is added to certain super contributions and compared to the Division 293 threshold. Division 293 tax is payable on the excess over the threshold, or on the super contributions, whichever is less. The rate of Division 293 tax is 15%.

Table 7: Division 293 threshold

Income year

Threshold

2017–18 onwards

$250,000

2012–13 to 2016–17

$300,000

For more information, see Division 293 tax – information for individuals.

End of year interest

Where Division 293 tax relates to defined benefit interests, payment of the tax is deferred until a super benefit is paid from the interest. We must keep a debt account for each defined benefit interest where there is an amount of Division 293 tax that has been deferred.

End of year interest is calculated (at the average 10-year Treasury bond rate for that year) on the amount by which the deferred debt account is in debit at the end of the income year.

Table 8: Division 293 tax – end of year interest

Income year

Average 10-year Treasury bond rate

2022–23

3.6096%

2021–22

2.1124%

2020–21

1.1816%

2019–20

1.0333%

2018–19

2.2547%

2017–18

2.7021%

2016–17

2.4157%

2015–16

2.6139%

2014–15

2.9978%

2013–14

N/A (see Note 1)

Note 1: end of year interest was not applied to deferred debt accounts for the 2013–14 income year.

QC18123