Australia’s new Division 296 tax will reshape how high-balance superannuation members plan their future. While the broad framework has been announced, many finer details are still to come so trustees should start preparing, but avoid overreacting until the legislation is finalised.

The Reserve Bank of Australia (RBA) has raised the official cash rate (OCR) by 25 basis points to 4.10%, citing ongoing inflationary pressures as the primary driver.