Meg's Musings June 2026 | CGT & Division 296 Tax Explained

Meg Heffron

Managing Director

The excitement certainly kept on coming in May with the Government releasing draft legislation for the first of several Federal Budget announcements (changes to capital gains tax). While they specifically don’t impact super funds (either SMSFs or large funds), they do, of course, have the potential to impact the tax effectiveness of super vs other savings structures.

Given the timing, I must admit I can’t help but see most things through a Division 296 tax lens at the moment and so both our articles this month touch on both this new tax and capital gains. We will try to avoid too much more coverage of either for the next few months but, spoiler alert, both will feature in our forthcoming Super Intensive Day. I am already deep into my spreadsheets and looking for interesting ideas to share.

I have to confess I always get a buzz when we launch this event. It’s been running for 20 years and some of us have been deeply involved since the very beginning (looking at you, Leigh Mansell). Others have been around for the whole time but only directly part of the show more recently (Andrea Connor, Sean Heffron). Finally of course, Lyn Formica brought a similarly long tradition of delivering high quality annual SMSF training days when our firms joined together in 2017 and now leads the whole show. We put a lot into this event and we like to think it brings together all the very best of Heffron – a great agenda, top notch speakers and extensive new content and resources. I hope to see many of you there – in person or online – in August / September.

And you might have noticed a new section in our newsletter this month – a featured course. Now that we have made all our mini courses available individually via our platform, we have the luxury of being able to draw your attention to specific courses we think are topical. Many of you have already checked out our Payday super course from last month (Heffron - Education: Payday super for SMSF professionals) and this month we’ve updated another old favourite that’s particularly topical for this time of year about recontribution strategies (the ins and outs, tips and traps and all the many variations on the theme) : Heffron - Education: Withdrawal and recontribution strategies

Heffron’s annual Super Intensive Day is back for 2026.

The most comprehensive SMSF CPD event available for financial professionals, delivering up to 15 hours of specialist education across the full superannuation landscape, in a single focused day. Secure your spot now:

This article is for general information only. It does not constitute financial product advice and has been prepared without taking into account any individual’s personal objectives, situation or needs. It is not intended to be a complete summary of the issues and should not be relied upon without seeking advice specific to your circumstances.