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The ATO advises that it will start issuing Division 293 tax notices of assessment for the 2012–13 financial year to affected individuals from early February 2014.

If you have clients whose income and low-tax superannuation contributions are greater than $300,000, they may have to pay an extra 15% tax on their taxable contributions. Taxable contributions will be either the low-tax contributions amount or the excess above the $300,000 threshold, whichever is the lower amount.

The ATO has detailed information on its website about how the calculation is made and the options your clients have to make any payments that arise, refer to Division 293 Tax: information for tax agents.

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