Superannuation & SMSFs
The Government is calling on the Senate to pass two of its superannuation Bills, despite there being more than a month until Parliament sits and only a couple of Senate sitting days before a likely May election.
ASIC has released proposed changes to how fees and costs of superannuation funds are disclosed, under the RG 97 rules. But one industry body says these changes will further complicate the disclosure regime.
The Productivity Commission has given its report on the efficiency and competitiveness of superannuation to the Government. Though it might not be released before the next Federal election.
Update: The Government has released the Productivity Commission report, but is
…The Government is calling for submissions for its brought forward 2019/20 Federal Budget, which is expected to be held in early April.
“The Government is seeking submissions from individuals, businesses and community groups on their views regarding priorities for the
…The ATO has warned SMSF auditors that, in its view, no safeguards can reduce the threats to auditor independence from reciprocal auditing arrangements.
The ATO says that “blatant independence breaches”, including an auditor auditing their own SMSF, has attracted the
…SuperRatings said November was the third consecutive month of investment losses for superannuation funds. They found the median balanced option (accumulation) was down 0.6% for
…Labor plans to stop refunds of excess franking credits for most taxpayers, with exemptions for Age
…At the Labor National Conference it was announced that Labor would include superannuation in the National Employment Standards. The National Employment Standards
…According to the latest Roy Morgan figures, 61.8% of industry fund
…The SMSF Association says FASEA should do this to achieve “consistency, clarity
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