Changes to Superannuation: October 2015

Changes to Superannuation October 2015, Financial System InquiryChanges to Superannuation in October 2015 included the Government’s response to the final report of the Financial System Inquiry. The Government won’t ban SMSF borrowing and will legislate a purpose for superannuation. Changes to super fund choice and the default super fund setting process are also likely:

Changes to Superannuation: September 2015

Changes to Superannuation September 2015Changes to Superannuation in September 2015 included passage of legislation providing for look-through treatment of SMSF LRBAs, a increase to the threshold above which lost super is transferred to the ATO and the introduction of a bill to change superannuation fund governance. The PM and Cabinet also changed, though it is unclear at this stage what implications this will have, if any, for superannuation policy.

Changes to Superannuation: August 2015

Changes to Superannuation August 2015Changes to Superannuation in August 2015 included legislation to reduce the ‘harshness’ of the Superannuation Guarantee Charge, increase the lost superannuation threshold, change the governance of public offer superannuation funds and several ATO decisions.

Changes to Superannuation: June 2015

Changes to Superannuation June 2015The Government made several changes to superannuation in June, with the last sitting days of Parliament before the winter break, including draft legislation for changes to super fund governance, changes to the Standard Choice Form requirements and the Small Business Superannuation Clearing House.

The Age Pension changes also passed the Parliament, following a deal between the Government and the Greens. The Greens claimed they had extracted a review of retirement incomes, but it only appears to be a six week extension to the date for submissions in response to the Tax Discussion Paper. Read more...

Changes to Superannuation: May 2015

Changes to Superannuation May 2015The changes to superannuation in May 2015 were dominated by the 2015 Federal Budget. Though changes in the budget were modest there is an emerging policy battle over super, with the Liberal party extending the promise of no changes, while the Labor party revisits policies floated while they were in government.

Changes to Superannuation: March 2015

Changes to SuperannuationMarch has been an eventful month, with the start of the Tax White Paper process, release of the Intergenerational Report and the ‘thought bubble’ of allowing first home buyers to access their superannuation.