KSW Insight Newsletter | October 2023


October 2023 | VOLUME 183
KSW Newsletter for Clients and Associates of Kreston Stanley Williamson

Division 296 Tax – The New Name For The Additional 15% Tax on Superannuation Balances Above $3M 

Australia’s proposed “Division 296 Tax” targets superannuation balances over $3 million, effective from July 2025. It’s not a flat 15% tax but applies only to earnings exceeding the threshold, including unrealised gains and losses. Read more here to find out about the implications and industry concerns.

Be Cyber Wise – Don’t Compromise

To enhance cybersecurity and protect against cyberattacks, consider actions like using secure connections, maintaining strong passwords, and implement multi-factor authentication. Read more here to discover additional steps you can take to improve your defences against cyber threats.

Land Tax Assessments for Your Principal Place of Residence – Be Aware!

We have recently received a number of land tax assessments for the year ended 31 December 2022 for client’s principal places of residence (PPR), where the land value has exceeded the threshold. Read more here to understand the recent changes Revenue NSW has made in relation to your PPR. 

Kreston Stanley Williamson’s 3-Week Eco Games Challenge Has Come to an End

KSW has embraced a three-week sustainability challenge organised by Ma Petite Planète as part of our growing commitment to ESG initiatives. We were able to achieve impressive results, including CO2 emissions reduction and water conservation. Read more here to learn how we’re shaping a greener and more sustainable future.

Kreston Stanley Williamson

*Correct as of 30 October 2023

*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability is limited by a scheme approved under professional standards legislation.

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