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Division 296 Super Tax (proposed to start 1 July 2026) is an additional 15% tax on superannuation earnings corresponding to the portion of an individual's Total Superannuation Balance (TSB) exceeding $3 million. For balances over $10 million, an additional 10% tax (25% total Div 296 tax) applies, with thresholds indexed to inflation.

From 1 July 2026 employers will need to pay employees their super guarantee on payday, at the same time as their salary and wages. The employer must pay the employees’ super on payday – whether it’s weekly, fortnightly or monthly. If your business already pays super with salary and wages, you might not need to make any changes.