Adam Curlis

Assuming it is $3.1 million, with the $80,000 pension payment it becomes $3.18 million. If your balance on June 30, 2026, is greater than $3 million (say $3.1 million) then Division 296 tax will count a balance of $3.18 million in its calculations even if your balance at the start of the year was less than $3 million (in your case $2 million) One aspect of Division 296 tax where you have a greater than $3 million balance at the end of the year but a balance of less than $3 million at the start is that it will be calculated as if your year started with a $3 million balance. When determining your super earnings for Division 296 tax purposes you add together your year-end balance with pension payments and then deduct your balance at the start of the year from this. That’s $3.1 million plus $80,000 less $3 million. This will give you total super earnings for Division 296 purposes of $180,000. Despite the large increase in your fund from $2 million to $3.1 million, your Division 296 liability will be significantly less given it won’t include the increase in your total super below the $3 million threshold. The 15 per cent tax will only apply to the percentage that $180,000 represents of $3.18 million or 5.66 per cent. While 15 per cent of $180,000 is $27,000, 5.66 per cent of this results in a Division 296 tax liability of $1528. This assumes there is no change in the proposed tax when – and if – it finally becomes law.

Hilariously, the AFR is showing just how absurd is the scare campaign against the super tax changes.

They give an eg where someone's super goes from $2m to $3.18m in a year!

Yep a $1.18m increase.

How much extra tax?

$1,528!

OMG!! THAT'S OUTRAG... err... oh actually that's bugger all

Chart showing cumulative superannuation of someone starting on $150,000 at 18yo getting a pay rise of 3.7% and working every year till retiring at 67.

Think you might one day have $3m in your super & be affected by the super tax changes?

Ok, you are 18yo, you just got a job - it pays... $150k!
Give yourself a 3.7% annual pay rise.
Never take time off for study, kids or illness.

You will retire with $3,017,016

moneysmart.gov.au/how-super-wo...

Exclusive video of the good people of the south coast scoping out the area for a potential nuclear reactor which happened to be where Peter Dutton was to have his press conference. Siren, Geiger counter and all

David Shoebridge grills Parliament Services on China tweeter - Michael West Senator David Shoebridge grilled the DPS in Senate Estimates over the prolific social media poster in the Library suing Michael West Media.

Senator @DavidShoebridge grills DPS today over the guy who sues journalists from the parliament library
#auspol #china
michaelwest.com.au/david-shoebr...

Dr Assal Rad on Twitter—

"You don’t kill thousands upon thousands of children by accident."

Voting opens 26 Feb at #ANU!

🟣 26 Feb - Rally to mark with opening of vote ✊
🟣 27 Feb - @nteunion.bsky.social Senate Estimates Watch Party - join us to watch as ANU Executive faces the music. 🎶

More info at votenoANU.nteu.au.
Join the NTEU today at www.nteu.au/join.

A Dutton Government would be bad for workers, education, health, public services, the environment... the list goes on. Great to be out in Belconnen this morning. #DontRiskDutton ☢️ @australianunions.bsky.social @nteunion.bsky.social

If only teachers, unions, education experts and the Greens had warned governments that underfunding was destroying our public school system!

What kind of society finds it acceptable that 150 people can hoard $600 billion while millions live in or on the edge of poverty?

The Greens are fighting back. We'll tax the billionaires to pay for a better life for all Australians. 💚

YouTube video by PurplepingersTV The Right to Strike

The Right to Strike - and how the Labor party keeps fucking it.
youtu.be/6qAOTQmrONQ

GP visits to become free for most under $8.5b Labor Medicare promise Labor says nine out of 10 GP visits will be free from out-of-pocket expenses by 2030 under an $8.5 billion Medicare election funding promise, to be announced by the prime minister on Sunday.

'The money will fund 18 million extra bulk-billed visits a year, as the Govt moves to widen free GP access from children & pensioners to a near universal system.' #medicare www.abc.net.au/news/2025-02...

WATCH: “Instead of giving money to private schools that don’t take kids like me, please help public schools get better and fund them.”

A 6th grader with cerebral palsy speaks out against the TEXAS voucher scam. (cc: @GovBillLee)

David Tennant got to be the Doctor twice (10th and 14th). Could we make the legend Grace Tame Australian of the Year a second time? 😁 #NewsCorpse

Sign the Petition Save Advance Diploma Visual arts at Lismore TAFE

In NSW the LNP privatised Fine Arts at TAFE making it only for the rich. Teachers were sacked. Labor could fix this. Please sign this petition.
www.change.org/p/save-advan...

#RebuildWithTAFE

Pictured is Queensland TAFE nurrsing student Molly, with a quote: ‘Without fee free TAFE, I wouldn’t be able to study nursing right now. So, it’s made a huge difference for me.’

Without Labor’s Fee-Free TAFE, Molly wouldn’t be able to study nursing right now.

And that’s exactly why we’re making it free TAFE permanent, nationwide – to give more Australians the opportunity to gain skills and get ahead.

See some of the most terrifying and dramatic pictures of California wildfire devastation These photos chronicle the catastrophic scale of destruction from wildfires in California that started on Jan. 7.

This is what climate change looks like. Devastating wildfires are spreading around the planet as temperatures continue to increase. We need to pull the plug on fossil fuels - the primary cause for global climate change. And we need to do it fast. www.npr.org/sections/the...

Important read for 2025

Under Labor, free TAFE is here to stay. We want to support more people like Susan to gain skills and get ahead.

Jasmyne always wanted to be a nurse, like her mum. Now she’s able to study nursing – fee free, thanks to Labor.

We need more nurses to care for our loved ones, so it makes sense to make it easier for people like Jasmyne to gain skills through TAFE.

That’s why Free TAFE is here to stay with Labor.

Sign the Petition Save Advance Diploma Visual arts at Lismore TAFE

In NSW the LNP privatised Fine Arts at TAFE making it only for the rich. Teachers were sacked. Labor could fix this. Please sign this petition.
www.change.org/p/save-advan...

Sign the Petition Save Advance Diploma Visual arts at Lismore TAFE

In NSW the LNP privatised Fine Arts at TAFE making it only for the rich. Teachers were sacked. Labor could fix this. Please sign this petition www.change.org/p/save-advan...

Hooda would love to study nursing or become a police officer. Right now that's 'impossible' Despite completing schooling in Australia, the children of asylum seekers are often counted as "international students" and cannot afford the fees to attend university.

'Overlooked' children of asylum seekers blocked from university study - ABC News
www.abc.net.au/news/2024-11...

Human Rights Commission’s report found that in an overwhelmingly male system, there is a concerning lack of adequate or equitable support for women in onshore immigration detention. This lack of support raises serious concerns over women’s safety & welfare

humanrights.gov.au/our-work/asy...

LA fires show the human cost of climate-driven ‘whiplash’ between wet and dry extremes The heath-related impacts of climate change will reach US$1 trillion a year by 2050.

The heath-related impacts of climate change will reach US$1 trillion a year by 2050 theconversation.com/la-fires-sho...

Our government maintains these complicated punishment systems so that it can say that people receiving welfare are fulfilling their “mutual obligations”. Mutual obligation is a big lie: it’s not mutual, and there is no obligation for the government to hold its side of the deal

Our media ignores the elephant in the room: Israel’s illegal occupation - Pearls and Irritations It falls to someone to bring the discussion concerning what is happening in the Middle East, back to the elephant in the room. And what is the elephant? It is the fact of illegal occupation and what is not being done about it.

Our media ignores the elephant in the room: Israel’s illegal occupation https://johnmenadue.com/our-media-ignores-the-elephant-in-the-room-israels-illegal-occupation/ #Auspol

BoM data finds 2024 was Australia’s second-hottest year on record Rise in greenhouse gases responsible for average temperatures rising to 1.46C above average, with one climate scientist saying this is ‘the norm now’ * Get our breaking news email, free app or daily news podcast Last year was Australia’s…

BoM data finds 2024 was Australia’s second-hottest year on record

What is this secret legal advice for Dutton ?

Arnold Bloch Leibler has a history of providing advice to politicians on matters ranging from defamation to their eligibility to serve in parliament.

au.headtopics.com/news/dutton-re…

Merry Xmas to all the workers who give up their own family and friend time today, but especially those in the aged care and disability sector who often provide the family experiences for others.
You are undervalued champions.
May you and those you support have the best day possible.
🎄 🎁 ❤️