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 proposes changes to RG 97 super fund fee & cost disclosure rules
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.
Productivity Commission has handed super system efficiency & competition report to Government
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
…Government calls for submissions to brought forward 2019/20 Budget
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
…ATO warns SMSF auditors on reciprocal audit arrangements
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
…Super funds at risk of first calendar year investment loss since 2011
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
…SMSFs likely to switch to international shares under Labor franking credit plan
Labor plans to stop refunds of excess franking credits for most taxpayers, with exemptions for Age
…Labor would add superannuation to National Employment Standards
At the Labor National Conference it was announced that Labor would include superannuation in the National Employment Standards. The National Employment Standards
…Satisfaction with performance of industry and retail funds continues to fall
According to the latest Roy Morgan figures, 61.8% of industry fund
…SMSFA calls for auto approval of CPD by licensees under FASEA rules
The SMSF Association says FASEA should do this to achieve “consistency, clarity
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