Overview
Division 296 adds a 15% tax on super earnings for members with a Total Superannuation Balance (TSB) over $3 million, and a further 10% over $10 million. This article sets out exactly what's available in Simple Fund 360 today, what's still being built, and how to handle the cost base reset in the meantime.
What is available now
Division 296 Estimation AI Assistant
- Estimates and projects Div 296 tax for your SMSF members using real-time data already in Simple Fund 360, covering TSB, super earnings, taxable proportions & the Div 296 tax amount, based on current ATO rules.
Div 296 Cost Base Analysis Report
- Details the fund's investments and their current cost bases, and calculates unrealised gains and losses per asset. Use this to see which funds are likely to benefit from a cost base reset.
Div 296 CGT Reset Letter, Minute and Resolution
- Generates the documentation to confirm and record a fund's election to reset its CGT cost base: the letter, trustee minute and resolution are all available to generate now.
Insight Dashboard Filter
Filter funds by 2.7M to Under 3M (approaching the threshold) or 3M or Over (already exposed), based on TSB as at 30/06/2026, so you can plan ahead across your client base.
- 2.7M to Under 3M - displays funds with members approaching the $3M Total Super Balance as at 30/06/2025, allowing for prior planning.
- 3M or Over - displays funds with members whose Total Super Balance as at 30/06/2025 already exceeds $3M.
What is coming soon
Division 296 Cost Base Tool
This screen gives you a complete view of every asset held by the fund, including its current cost base and unrealised gain or loss, and lets you reset these to the 30 June 2026 market value, with the updated figure recorded against the asset in the CGT register. It's also where wrap and managed investment accounts are handled at the individual investment level, in line with Div 296 requirements
Additional Roadmap items
- Full Div 296 fund earnings and member attribution calculation and report
- The Div 296 Tax Release Authority (for documenting the release of SMSF funds to pay the tax)
- Pre-fill of the approved CGT election form for lodgement alongside the 2027 annual return
- Actuary integration for updated member attribution percentages
- Indexation of the $3M/$10M thresholds in future years
Expected Timeline
| Feature | Expected |
|---|---|
| Div 296 Cost Base Reset tool | Q4 2026 |
| Full Div 296 reporting (fund earnings & member attribution) | Q2 2027 |
| Tax time changes (member proportion & fund earnings calculations) | Q2 2027 |
| Actuary integration | Q2 2027 |
| Div 296 Tax Release Authority | Q3 2027 |
Interim workaround: recording the cost base reset manually
If a fund wants to elect the reset now, using the letter, minute and resolution above, you'll need to work out and record the 30 June 2026 market value for each CGT asset outside Simple Fund 360 until the Cost Base Reset tool is available. In practice, that means:
- Generate the Div 296 Cost Base Analysis Report to get the current cost base for every asset.
- Record the 30 June 2026 market value for each asset in a separate working paper (a simple spreadsheet is fine), alongside the existing cost base.
- Keep this working paper on file with the signed reset letter, minute and resolution: it'll be the source you use to enter the reset cost base once the tool is released, and it's the figure the Cost Base Analysis Report itself is already surfacing.