Division 293 tax alerts

Original Published Date
Tax Category
Tax preparation
Resource Type

For myTax this year we are introducing an alert, as part of the tax calculation/estimate, for all individuals with Division 293 income greater than or equal to $225,750, advising them that they may/will be subject to additional tax on concessional contributions (Division 293).

This will improve the Division 293 client experience, bringing it more in line with their income tax experience and reducing any surprise factor of receiving a Division 293 Notice of Assessment (NOA).

We have designed two alerts for clients where we know they may, or will receive a Division 293 NOA. Including these alerts in the Individual Income Tax Return (IITR) will allow intermediaries to value add by letting clients know this is coming. This saves them time and reduces any phone calls later when the Division 293 NOA arrives. It also gives intermediaries time to talk to their clients about what Division 293 is, and answer any associated questions on the spot.

We recommend that digital service providers provide Division 293 alerts within SBR software, for preparers of 2019–20 IITR.

For more information they can visit ato.gov.au.

File Size Upload date
Division 293 tax alerts (DOCX) 311.12 KB 13 May 2020
Income for Division 293 purposes (DOCX) 477.35 KB 13 May 2020

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