Division 293 was introduced by the Federal Government in the 2012/13 financial year. It is aimed at reducing tax concessions available to high income earners. When first introduced the threshold was $300,000 per annum (adjusted taxable income). In the 2017 Federal Budget this threshold was further reduced to $250,000. the lower threshold applies from 1 July 2017. Division 293 imposes additional tax on tax deductible superannuation contributions made by or on behalf of persons who exceed the threshold. Deductible superannuation contributions ordinarily attract 15% tax. Division 293 imposes an additional 15% tax meaning superannuation contributions made by or on behalf of these persons will attract a total of 30% tax. Persons affected are assessed individually. When you lodge your tax return the ATO will amend your notice of assessment to account for this additonal tax.