This 2018/19 pre-Budget submission makes several superannuation-related recommendations, including prioritising the legislative objective of superannuation, repealing the ‘work test’ and indexing the LISTO to Super Guarantee rate.
Prioritise legislative objective of superannuation
Before further changes to superannuation are made priority should be given to enacting the objective of superannuation.
The Superannuation (Objective) Bill 2016 has not been debated in the Parliament in over a year. In the most recent sitting of Parliament every Government superannuation Bill, except the Objective Bill, was scheduled for debate. It is incongruous with having an objective of superannuation, one to which statements of compatibility are to be published, to pass all other super legislation before enacting the objective.