The government’s new tax on super balances over $3 million, effective from 1 July 2025, raises concerns for SMSF members. With no indexation and assessments starting from March 2027, strategies must be reviewed now. Consolidating funds, managing balances, and understanding transfer risks—like the “widow’s tax”—are key. SMSFs remain attractive, but members must act early to reduce the impact and maintain tax efficiency.