Now that March has passed us by without the 6 member SMSF rule having being passed the earliest it can come into force is 1 July. This is because, even if this measure is passed before the end of this financial year, it cannot become law until the first quarter after receiving Royal Assent. That makes 1 July 2021 the earliest possible start date.
Calculating the $3M Tax
The Div 296 tax bill has now passed the House of representatives. Its passage through the Senate is not guaranteed so...