The Government plans to debate six of its superannuation Bills in the Senate this week – almost all its super-related Bills before Parliament. The Government’s superannuation agenda has not been a priority recently, with none of the five Bills having been debated since June – which is before the most… Read More »Six superannuation Bills up for debate in Senate this week
With Parliament having risen for the long winter break many of the Government’s superannuation Bills remain stalled in the Senate, with some not even being debated yet in 2018 ASIC fee-for-service Bills The Bills to change ASIC towards a fee-for-service model have passed the Parliament. In part the Bills will… Read More »Superannuation Bills largely stalled in Senate ahead of winter break
Much of the Government’s superannuation agenda starts the Parliamentary year stalled in the Senate. The Government currently has five superannuation Bills before the Parliament. The Government gave three of the four Bills in the Senate priority for debate in the final sitting week of 2017, only to delay when it… Read More »Superannuation Bills start Parliamentary year stalled
The Government plans to introduce legislation to Parliament to provide CGT relief where superannuation balances are transferred within a fund into a MySuper product. The Treasury Laws Amendment (2017 Measures No. 4) Bill is planned to be introduced in the winter sitting of Parliament, which starts today. The Bill will… Read More »MySuper transfer CGT relief Bill to be introduced to Parliament
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 to superannuation in 2016 and their current status.
In brief, many of the Government’s changes to superannuation announced in the 2016 Budget, some of which have subsequently changed, have passed the Parliament: Fair and Sustainable superannuation package passes Parliament.
The Government has introduced three superannuation-related Bills to the House of Representatives just before the Parliament rises for the long break ahead of the Budget. These Bills include expanding choice of super fund, changes to the disclosure requirements on large super funds and the Statutory Remedial Power for the ATO. Expanding choice… Read More »Super fund choice and disclosure Bills put before Parliament
The Government will introduce bills to increase to $6,000 the threshold at which lost superannuation is transferred to the ATO and make changes to super fund governance in the spring session of Parliament.
The Tax and Superannuation Laws Amendment (2014 Measures No. 7) Bill 2014 has passed the Parliament, changing the treatment of excess non-concessional contributions.
After receiving assent the bill will create a system for refunding excess non-concessional contributions made in the 2013/14 or later financial years, along with 85% of associated earnings. The grossed up (100%) associated earnings are included in the individual’s assessable income for the year in which the contribution was made, with a 15% non-refundable tax offset.