We invite feedback on the draft bills for the government’s Better Targeted Super Concessions policy. The government announced practical changes to the policy in October 2025.
The Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2025 (the Bill) and the Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2025 reduce the tax concessions for people with total super balances over $3 million. They impose new taxes under a new Division 296 of the Income Tax Assessment Act 1997.
The Bill includes:
- adding a second threshold with a headline rate of 40 per cent – this rate will apply to earnings on the part of an individual’s total super balance above $10 million
- indexing the thresholds consistent with the approach for the transfer balance cap
- moving to a realised earnings approach that aligns with existing income tax concepts
- changes to exclude capital gains accrued before the start of the policy
- applying commensurate treatment to defined benefits
- delaying the start date to 1 July 2026.
This page includes a summary of the proposed content of the regulations to give more clarity on how the Bill will work.
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