Staying Ahead: SMSF Professionals Day 2025
- Superannuation Audit Services
- May 28
- 2 min read
Key Highlights & What Division 296 Means for You
The Superannuation Audit Services team recently attended the SMSF Professionals Day 2025, held at the Melbourne Convention & Exhibition Centre (MCEC).
This annual event continues to be a key fixture on the SMSF calendar — and this year’s program held on 27 May 2025, proved especially valuable, focusing on both regulatory changes and practical strategies for the year ahead.
Reconnecting & Learning
More than just an opportunity to upskill, the day was a fantastic chance to reconnect in person with many of our valued clients — both current and past. With a strong lineup of expert-led sessions, the event provided valuable insights into emerging trends and regulatory shifts affecting SMSFs.
The Hot Topic: Division 296 Tax
The major headline of the day was the introduction of Division 296, a significant new tax reform set to take effect from the 2025–26 financial year. This new tax will broadly affect individuals with a Total Superannuation Balance (TSB) over $3 million at the end of the financial year.
While the premise seems straightforward — taxing earnings attributed to the portion of a balance that exceeds the $3 million threshold — the reality is more complex. Several intricacies arise in calculating who is affected and how liabilities are determined.
A Key Message: Don’t Panic
A standout takeaway from the day was clear: there is no need to panic. The SMSF industry is already working on strategic approaches to help clients navigate this new landscape.
Superannuation professionals, including the team at Superannuation Audit Services, are actively preparing for Division 296. Our focus is on ensuring our clients remain compliant, informed, and well-supported through the transition.
Now More Than Ever: Asset Valuations Matter
With Division 296 placing increased emphasis on the total superannuation balance, accurate and well-supported asset valuations are more important than ever. SMSF trustees will need to ensure that all fund assets are valued properly at the end of each financial year.
Unreliable or poorly documented valuations could lead to inflated balances — and, in turn, unexpected tax liabilities. As part of our audit process, we carefully assess valuation evidence to help trustees stay within compliance and avoid unnecessary complications.
Superannuation Audit Services can guide you on best practices for asset valuations and what documentation is needed to support them. Staying ahead means being proactive — and we’re here to help.
What's Next?
As more detail emerges, we’ll be working closely with SMSF trustees and advisers to help them understand their exposure to Division 296 and how to mitigate any tax impact where possible.
At Superannuation Audit Services, our commitment remains the same: to deliver fast, efficient, and ATO-compliant audits, while staying at the forefront of industry change.
Need help navigating upcoming SMSF changes?
Book a FREE consultation with our team of dedicated SMSF auditors today.
