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SUPER · DIVISION 296 · 2026–27

Division 296 calculator: the extra tax on super over $3 million

Enter your total super balance at 30 June 2027 and your super earnings for the year. The calculator applies the ATO's formula and shows the extra 15% (and, above $10 million, a further 10%) in dollars.

Division 296 adds 15% tax to the part of your super earnings that lines up with the slice of your balance above $3 million. It applies from 1 July 2026, and for 2026–27 the balance that counts is your total super balance at 30 June 2027. On a $4 million balance with $100,000 of earnings, the extra tax is $3,750.

Your figures
Add up every super account you hold. Leave out any limited recourse borrowing amounts, because the ATO excludes them for Division 296.
This is the "relevant super earnings" each of your funds reports to the ATO, added together. Your funds work it out under the Division 296 rules, so ask your fund for the figure.

Thresholds for 2026–27: $3,000,000 and $10,000,000

Division 296 tax Verified 4 Nov 2026
$0.00

Balance used for the calculation$0.00
Share of balance above $3,000,0000.00%
Total super earnings$0.00
Taxable super earnings$0.00
Extra 15% tax$0.00
Tax as a share of your super earnings0.0%

Assessments for 2026–27 start to issue in the later half of 2027–28. Payment is due 84 days after the notice of assessment.

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How the Division 296 tax is worked out

The ATO works it out in four steps. Your funds report your super earnings, and the ATO does the rest.

  1. Pick the balance. For 2026–27 it's your total super balance at 30 June 2027. From 2027–28 it's the greater of your balance just before the year started and your balance at the end of it.
  2. Find the share above $3 million. Subtract $3,000,000 from that balance, divide by the balance, and multiply by 100. The ATO rounds this to 2 decimal places.
  3. Apply that share to your total super earnings. The result is your taxable super earnings.
  4. Charge 15% on the taxable super earnings. Above $10 million, the same steps run again with $10,000,000, and 10% is added on top.

Worked example from the ATO

Jordan has $4,000,000 in super at 30 June 2027 and his fund reports $100,000 of earnings.

  • Share above $3 million: ($4,000,000 − $3,000,000) ÷ $4,000,000 × 100 = 25%.
  • Taxable super earnings: $100,000 × 25% = $25,000.
  • Division 296 tax: $25,000 × 15% = $3,750.

Kelly has $12,000,000 and $500,000 of earnings. Her share above $3 million is 75%, which gives $375,000 of taxable earnings and $56,250 of tax. Her share above $10 million is 16.67%, which gives $83,350 and a further $8,335. Her Division 296 tax is $64,585.

ATO, How Division 296 tax is calculated (last updated 3 November 2026, checked 4 November 2026).

The thresholds and rates for 2026–27

Large super balanceVery large super balance
Threshold$3,000,000$10,000,000
Extra tax15% of taxable super earnings10% of very large balance earnings
IndexationCPI, in $150,000 stepsCPI, in $500,000 steps

Both thresholds may rise in future years. Source: ATO, Division 296 tax on large super balances (last updated 3 November 2026, checked 4 November 2026).

What this calculator doesn't cover

The ATO sets separate rules for some people, so the calculator may not fit you if any of these apply:

  • You have a defined benefit interest or another prescribed interest. The ATO handles those differently and can defer the tax.
  • You die in the 2026–27 income year. The ATO says you're never liable for Division 296 tax in that case.
  • You're a child recipient of a super income stream, or you've received a structured settlement contribution. The ATO excepts both.
  • Some earnings are excluded, such as those of certain judges and state office holders, foreign super funds and non-complying plans.

Check the ATO's pages on Division 296 tax if any of these sound like you.

ATO, Division 296 tax on large super balances (last updated 3 November 2026, checked 4 November 2026).

When you pay Division 296 tax

The ATO sends a Division 296 notice of assessment once your funds have reported your earnings. The tax is due 84 days after the date of that notice. You can pay it yourself, or elect within 60 days to release money from one or more of your super funds to pay it. If you pay late, the general interest charge applies. The payment isn't deductible.

ATO, Paying Division 296 tax (last updated 3 November 2026, checked 4 November 2026).

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The law, the dates and worked tables from $3.1 million to $12 million.

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The other extra tax on high earners, which works on income and contributions.

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How much after-tax money you can still add, and how your balance sets it.

Pension drawdown

The minimum an account-based pension must pay, and how long a balance lasts.

Frequently Asked Questions

Who pays Division 296 tax?
People whose total super balance is above $3 million. For 2026–27 the ATO only looks at your balance at 30 June 2027. From 2027–28 it applies if your balance just before the start of the year or at the end of the year is above $3 million.
Is Division 296 tax charged on my whole balance?
It's charged on the part of your super earnings that lines up with the share of your balance above $3 million. On $4 million with $100,000 of earnings, that share is 25%, so $25,000 of earnings is taxed at 15%, which is $3,750.
What counts as my total super earnings?
It's the relevant super earnings each of your funds reports to the ATO, added together. Your funds work the figure out under the Division 296 rules, and the ATO uses what they report. Ask your fund for your figure.
What happens above $10 million?
An extra 10% applies to the earnings that line up with the share of your balance above $10 million, on top of the 15%. On $12 million with $500,000 of earnings, the total is $64,585.
When do I have to pay Division 296 tax?
The ATO says assessments for 2026–27 start to issue in the later half of 2027–28. The tax is due 84 days after the date of your notice of assessment. You can pay it yourself or ask to release money from your super.
Will the $3 million threshold change?
The ATO says both thresholds may be indexed to CPI in future years, the $3 million in $150,000 steps and the $10 million in $500,000 steps. For 2026–27 they are $3 million and $10 million.

Sources

Checked 4 November 2026.
Disclaimer: This is general information only. The calculator applies the ATO's published formula to the figures you enter and doesn't consider your personal circumstances. It isn't tax, legal or financial advice. Your Division 296 assessment uses the figures your funds report to the ATO. Check with the ATO or a registered tax or financial adviser before you act.