Lowering the Division 293 Threshold

Budget measure

The current Division 293 threshold is $300,000 until the end of the 2016-17 financial year. This threshold will be lowered to $250,000 from 1 July 2017.

From 1 July 2017, anyone earning an adjusted taxable income greater than $250,000 will pay an extra 15% tax on their concessional contributions.