Tag: Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016

ASIC has given financial advisers more time to prepare a Statement of Advice for clients, to help people get urgent advice around the changes to superannuation taking effect on 1 July 2017. ASIC has granted a temporary extension of time for financial advisers to provide retail clients with a Statement of Advice (SoA) for urgent… Continue reading ASIC creates extension for urgent super advice SoAs

Treasury has released an exposure draft of “minor and technical” changes to the recently legislated Fair and Sustainable superannuation reform package. “This draft legislation gives effect to amendments that resolve issues identified after the passage of the Treasury Law Amendment (Fair and Sustainable Superannuation) Act 2016 and the Superannuation (Excess Transfer Balance Tax) Imposition Act… Continue reading Treasury working on fixes for Fair and Sustainable super reform issues

The Government’s changes to superannuation, many of which were announced in the 2016 Budget, have passed the Parliament. The Parliament has passed the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 and Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016, with the support of Labor. Labor and the Greens proposed amendments, though these were defeated.… Continue reading Fair and Sustainable superannuation package passes Parliament

The Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 has passed the House of Representatives and is likely to pass the Senate with the support of Labor. Update: The Parliament has passed the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 and Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016, both without amendment. The Fair and… Continue reading Fair and Sustainable super Bill passes House, likely to pass Senate

The Law Council of Australia says the Government’s superannuation changes are “extremely complicated” and asks if super fund members will understand the operation of the new rules. The Law Council of Australia’s Superannuation Committee, in a submission to a Senate inquiry, also said the complexity of the Transfer Balance Cap rules is not consistent with… Continue reading Government’s super changes “extremely complicated”, says Law Council

The superannuation Bills to enact measures, largely, announced in the 2016 Budget should be passed “without any undue delay, to provide certainty and confidence in the system,” says the Association of Superannuation Funds of Australia (ASFA). On Wednesday the Government introduced the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, moved a second reading and… Continue reading Budget superannuation bills should be passed without “undue delay”

The Government has introduced three superannuation Bills to the House of Reps, which include measures from the 2016 Budget and enacting an objective for superannuation. The Government has introduced the following Bills to Parliament: Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 Superannuation (Objective) Bill 2016 Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016… Continue reading Budget 2016 superannuation Bills introduced to Parliament