Superannuation Bills largely stalled in Senate ahead of winter break

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 lead to increases in the… Continue reading Superannuation Bills largely stalled in Senate ahead of winter break

Super choice and salary sacrifice Bill scheduled again for debate in Senate

The Government has put its Bill to expand super choice and close a salary sacrifice ‘loophole’ up for debate in the Senate in Budget week. The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Bill 2017 is scheduled for debate in the Senate on Thursday. The Bill would expand choice… Continue reading Super choice and salary sacrifice Bill scheduled again for debate in Senate

Labor may yet support expansion of super fund choice

Labor will oppose the Government’s superannuation governance and reporting changes, but may yet support an expansion of super fund choice to more employees. Labor says it will oppose two of the Government’s superannuation Bills, but may support a third if it is amended. The House of Representatives on Monday passed the Treasury Laws Amendment (Improving… Continue reading Labor may yet support expansion of super fund choice

Choice of super fund a “fundamental right” of all employees: SMSFA

It is a fundamental right of all employees to choose their own super fund, and it should be an integral part of the superannuation system, the SMSF Association has told a Senate committee. The Senate Committee on Economics has been conducting an inquiry into a Bill which would expand choice of super fund. Currently employers… Continue reading Choice of super fund a “fundamental right” of all employees: SMSFA

Super choice expansion & closing salary sacrifice loophole Bill introduced

The Government has introduced legislation to expand choice of super fund for employees and close a superannuation salary sacrifice ‘loophole’. These changes are contained in the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Bill 2017. Meanwhile several superannuation Bills have been introduced to the Senate before the House of… Continue reading Super choice expansion & closing salary sacrifice loophole Bill introduced

Super industry criticises Government outcomes & accountability measures

The superannuation industry has sharply criticised the Government’s proposed changes to improve accountability and outcomes for members in the superannuation system. The Government recently released draft legislation, which it says will “ensure a modern, vibrant superannuation system”, the Treasury Legislation Amendment (Improving Accountability and Member Outcomes in Superannuation) Bill 2017. Related: Government announces super reforms to… Continue reading Super industry criticises Government outcomes & accountability measures