Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016

Treasury working on fixes for Fair and Sustainable super reform issues

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… Read More »Treasury working on fixes for Fair and Sustainable super reform issues

Draft super regs: Fair & Sustainable, subsidiary objectives for super

The Government has released draft superannuation regulations for consultation, including implementation of some of the ‘Fair and Sustainable’ super changes and to set subsidiary objectives for the super system. The draft regulations, which were released on Friday the 16th of December, include: Defining total superannuation balances Release authorities Lowering the annual… Read More »Draft super regs: Fair & Sustainable, subsidiary objectives for super

Fair and Sustainable superannuation package passes Parliament

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… Read More »Fair and Sustainable superannuation package passes Parliament

Fair and Sustainable super Bill passes House, likely to pass Senate

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,… Read More »Fair and Sustainable super Bill passes House, likely to pass Senate

Government’s super changes “extremely complicated”, says Law Council

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… Read More »Government’s super changes “extremely complicated”, says Law Council

Budget superannuation bills should be passed without “undue delay”

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,… Read More »Budget superannuation bills should be passed without “undue delay”

Budget 2016 superannuation Bills introduced to Parliament

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… Read More »Budget 2016 superannuation Bills introduced to Parliament