Super · from 1 July 2026
Tax if super is over $3m
Why this matters. From 1 July 2026 an extra tax can apply to a share of super earnings once the total balance is over $3 million, and again over $10 million. It is not a tax on the whole balance. Most balances are under the first line. The page uses the balance and earnings you type.
Division 296. If total super is over $3 million, part of that year’s earnings is taxed again. Over $10 million, a bit more. This is an estimate, not your tax assessment.
ATO — how Division 296 tax is calculated ↗
Extra tax
$7,5001 July 2026
On $200,000 of earnings. Balance used: $4,000,000.
- Share of the balance over $3m
- 25.00%
- Extra 15% on that share
- $7,500
- Share over $10m
- 0.00%
- Extra 10% on that share
- $0
Super already pays about 15% on earnings. This extra 15% sits on top, so that slice is taxed at about 30%. Above $10 million, add another 10%, so about 40% on that slice. It is not 30% or 40% of the whole balance. The $3m and $10m lines rise with inflation. These are this year’s numbers.
Some SMSFs can elect a capital-gains adjustment for assets held on 30 June 2026. This page does not work that out. ATO page ↗. How much you can still contribute is on private super.
Next: Extra super in private practice — Room left in the concessional contributions cap, and Division 293 over $250,000, before the large-balance tax.
What doctors often miss
From 1 July 2026 the extra tax applies to a share of earnings linked to a total super balance above $3 million, and again above $10 million. It is not a tax on the whole balance.
Included / Not included
Included
- Division 296 proportion: earnings × the share of the balance above $3 million, and again above $10 million ↗ · 1 July 2026
Not included
- Defined benefit in retirement phase (this sketch sets that tax to zero)
- The SMSF capital-gains election
- Withdrawals and contributions beyond the balances and earnings you type
- The 2023 proposal that taxed unrealised gains. This uses the earnings figure you type
- Fund fees, insurance, brokerage and inflation
Assumptions you can edit are the inputs on this page. This is a model, not a prediction, a tax assessment, or a recommendation.
A rough figure — not advice. Terms
Also
Advertisement — labelled, never inside the number.