Superannuation & SMSFs
The Government has “committed to making no further major changes to superannuation taxation” says Assistant Treasurer Stuart Robert.
The Minister told the Alliance for a Fairer Retirement System summit that instead “the focus on any future change will be to
…People suffering from a terminal medical condition will have easier access to any lost superannuation they have, with the passage of a Bill through the Parliament – which also extends tax relief for merging super funds and moves some responsibility
…The Government has introduced a Bill to allow the direct payment of lost super to the terminally ill, extend tax relief for merging super funds and shift responsibility for early release of super to the ATO.
…The job of changes to how superannuation is taxed is finished and the Government has no further plans, according to a senior minister.
Kelly O’Dwyer, Minister for Revenue and Financial Services, told the Tax Institute National Superannuation Conference: “I am
…Over three million people will benefit from the Low Income Superannuation Tax Offset, which starts from 1 July 2017, according to the Association of Superannuation Funds of Australia (ASFA).
The Low Income Superannuation Tax Offset (LISTO) provides a refund (
…The ATO has busted five ‘myths’ around the superannuation changes applying from 1 July 2017.
ATO Deputy Commissioner for Superannuation, James O’Halloran, told a CPA conference that he wanted to “clarify some misconceptions” about the changes to super legislated late
…New rules for actuarial certificates and commuting some kinds of superannuation pensions due to the Transfer Balance Cap have been dropped from the final version of the Treasury Laws Amendment (Fair and Sustainable Superannuation) Regulations 2017.
The Treasury Laws
…The $1.6 million Transfer Balance Cap is the issue most concerning superannuation professionals, a poll of Tax & Super Australia members has found.
29.1% of respondents to the poll said the Transfer Balance Cap was the issue of most concern.
…Superannuation changes in 2016 have been dominated by the range of measures announced in the 2016/17 Federal Budget – though several of these changes to superannuation have been modified or abandoned. Below is a list of many of the changes
…The Government isn’t favouring or targeting any particular type of super fund, but is going to make changes to the super system, Kelly O’Dwyer, Minister for Small Business and Assistant Treasurer, has told the National Press Club.