Australia Gazettes Laws Amending Superannuation Provisions

The Australian Official Gazette March 16 published Law Nos. 8/2026 and 9/2026, amending superannuation provisions. The laws include measures: 1) applying a 15 percent tax on taxable superannuation earnings for individuals with total superannuation balances up to A$3 million (US$2.1 million); 2) applying an additional 10 percent tax on the very large superannuation balance earnings component for balances above A$10 million (US$7.1 million); 3) defining comprehensive rules to calculate taxable superannuation earnings, large and very large balance thresholds, and Division 296 fund earnings; and 4) implementing Low Income Superannuation Tax Offset (LISTO) changes from July 1, 2027. The laws generally ...