The controversial Division 296 superannuation tax passed through both houses of parliament in March and will take effect from July 1 this year. From that date a 30% tax rate will apply on earnings from superannuation balances between $3 million and $10 million. For balances over $10 million a 40% tax rate applies.

Viridian Advisory senior financial adviser Amanda Ragkousis joined the Financial Standard podcast to talk about how she is helping clients prepare ahead of July 1.