From www.accountantsdaily.com.au: CA ANZ CEO Ainslie van Onselen warns that the proposed Division 296 tax, targeting superannuation balances exceeding $3 million, will unfairly impact surviving spouses, particularly women, who are already disadvantaged in terms of retirement savings.

The tax may force individuals to incur costs for unrealized gains, potentially worsening financial strains for those managing family responsibilities.

Van Onselen calls for the government to reconsider this “widow’s tax” and pursue comprehensive tax reform that benefits all Australians instead of imposing burdens without significant revenue gains.