Superannuation

August 2017

New super reforms aim for increased transparency and accountability – August 2017

Filed under: Economy and Finance, Superannuation, Politics, Australian Politics,

The Minister for Revenue and Financial Services, Kelly O’Dwyer, has announced that the Government will introduce legislation to give “everyday” Australians more power over their superannuation providers.

July 2017

Government to prevent employers using salary sacrifice to reduce SG payments – July 2017

Filed under: Economy and Finance, Superannuation, Politics, Australian Politics,

The Government will seek to legislate to close a loophole that it says could be used by unscrupulous employers to short‑change employees who choose to make salary sacrifice contributions into their superannuation accounts.

June 2017

Legislation passed with technical updates to 2016 superannuation caps – June 2017

Filed under: Economy and Finance, Superannuation, Tax, Politics, Australian Politics,

Legislation making detailed administrative changes to a number of superannuation reforms announced in the 2016 Budget, including the limit of $1.6 million on the balance transferred to the tax-free pension phase of all superannuation accounts, has passed Parliament.

May 2017

Superannuation – May 2017

Filed under: Economy and Finance, Superannuation, Politics, Australian Politics, Budget,

The Government will encourage older Australians to free up housing stock by enabling downsizers over the age of 65 to make a non-concessional contribution of up to $300,000 into their superannuation fund from the proceeds of the sale of their principal home.

April 2017

Government advances superannuation annuities discussion – April 2017

Filed under: Economy and Finance, Superannuation,

Revenue and Financial Services Minister Kelly O’Dwyer has released draft superannuation income stream regulations, continuing the implementation of the Government’s superannuation reforms and introducing a new set of design rules for lifetime superannuation income stream products.

December 2016

Parliament passes superannuation reform package – December 2016

Filed under: Economy and Finance, Superannuation,

Parliament has passed what the Government describes as the most comprehensive suite of superannuation reforms in a decade.

November 2016

Superannuation changes a possible first step towards fairer benefits – November 2016

Filed under: Economy and Finance, Superannuation, Tax, Politics, Australian Politics,

The Government’s wind-back of generous superannuation tax concessions for higher income earners passed through parliament this week, one of several much-needed political wins for the Government as parliament draws towards its end for 2016.

October 2016

Draft legislation published changing 2015-16 superannuation Budget measures – October 2016

Filed under: Economy and Finance, Superannuation, Politics, Budget,

The federal Government has released further draft legislation for the changes to superannuation measures first announced in the 2016-17 Budget.

September 2016

Government addresses ‘agenda’ issues: welfare, superannuation and refugees – September 2016

Filed under: Economy and Finance, Superannuation, Politics, Australian Politics, Social and Community,

With the Prime Minister overseas and Parliament not sitting again until October 10, the Government has taken the opportunity to re-focus on which could be said to constitute its post-election agenda.

Government modifies superannuation reforms – September 2016

Filed under: Economy and Finance, Superannuation, Politics, Australian Politics,

The Government has announced changes to the superannuation arrangements announced in the 2016-17 Budget – which were strongly criticised by some Coalition back benchers.

June 2016

Campaign week four: Superannuation causes concern – June 2016

Filed under: Australian Politics, Elections, Superannuation,

Prime Minister Malcolm Turnbull and his Treasurer Scott Morrison are adamant that their proposed changes to the superannuation system will not be watered down.

1 July deadline for small business superannuation – June 2016

Filed under: Economy and Finance, Superannuation, Tax, Trade and industry, Small Business,

The Australian Tax Office (ATO) has issued a reminder that 1 July 2016 is the deadline for all small businesses to lodge their Superannuation Guarantee payments and reports using SuperStream.

Expanded BAS agent services finalised – June 2016

Filed under: Economy and Finance, BAS Agents, Superannuation, Tax,

The Tax Practitioners Board (TPB) has finalised and formalised the expanded services which BAS Agents can provide, including Superannuation Guarantee (SG) and building industry Taxable Payments reports.

May 2016

Not for Profit sector Parliament and Politics – 13 May 2016: The superannuation debate

Filed under: Economy and Finance, Superannuation, Politics, Budget,

The Federal Government’s superannuation changes announced in the Budget less than two weeks ago have emerged as one of the key election campaign issues in the first week of the campaign.

The big implications of the Coalition’s superannuation tax changes – May 2016

Filed under: Economy and Finance, Superannuation, Tax, Politics, Australian Politics,

Although Labor has focussed its political attack on the Budget on the company tax cuts, the most surprising and arguably the most important element of the Budget, are the sweeping superannuation changes.

Budget Overview – Government still finds some rabbits but welfare and aged care sectors hit

Filed under: Economy and Finance, Superannuation, Tax, Politics, Australian Politics,

Despite its pre-Budget claims aimed at reducing expectations, the Government has managed to produce two rabbits from its Budget hat – sweeping changes to superannuation and a complex set of reductions in company tax.

Superannuation – May 2016

Filed under: Economy and Finance, Superannuation, Tax, Politics, Budget,

The Government has announced a number of changes to superannuation arrangements, imposing stricter limits on contributions, lower income thresholds for concessional taxation and stricter limits on the amount of superannuation to be available in the pension phase of superannuation.

February 2016

Productivity Commission superannuation review – February 2016

Filed under: Australian Politics, Superannuation, Trade Unions,

The Treasurer has announced the terms of reference for the first two stages of a Productivity Commission review into the efficiency and competitiveness of the superannuation system.

Greens offer Government new tax deal – February 2016

Filed under: Australian Politics, Superannuation, Tax,

The Greens have offered to begin negotiations with the Government on possible tax options after Prime Minister Malcolm Turnbull ruled out any changes in the GST.

December 2015

Legislation to increase superannuation transparency and flexibility – December 2015

Filed under: Australian Politics, Superannuation,

Assistant Treasurer Kelly O’Dwyer has released draft legislation aiming to improve superannuation fund transparency and extend choice of fund arrangements.

October 2015

Consumer protection focus of Turnbull Government response to Murray Inquiry – October 2015

Filed under: Australian Politics, Banking, Finance, Financial Regulation, Financial System Inquiry,

The Turnbull Government has announced key consumer protection measures in its response to the Murray Financial Services Inquiry.

A study in contrasts: investing political capital in advancing policy – October 2015

Filed under: Australian Politics, Budget, Financial System Inquiry, Superannuation, Tax,

Allowances need to be made – always – for embellishment and licence in farewell addresses, but by any standards Joe Hockey’s effort this week was truly delusional.

Parliament and politics – 16 October 2015: Tax Reform discussion revived – October 2015

Filed under: Australian Politics, Senate, Superannuation, Tax,

Parliament resumed sitting on Monday 12 October and sat through to Thursday 15 October, its first sitting for three weeks.

Some hope on policy reform agenda – October 2015

Filed under: Australian Politics, Superannuation, Tax, Social Services,

Prime Minister Malcolm Turnbull and his key economic ministers met on Thursday 1 October with selected participants from the ‘National Reform Summit’ held in August.

September 2015

Kelly O’Dwyer – Assistant Treasurer & Minister for Small Business – September 2015

Filed under: Australian Politics, Economy, Superannuation,

As junior minister in the Treasury portfolio, with direct responsibility for small business and a baby daughter, Kelly O’Dwyer can expect a hectic year or so ahead.

Superannuation Guarantee Charge to be simplified – September 2015

Filed under: Australian Politics, Superannuation,

Treasury has published draft legislation that would implement the Government’s commitment in January “to simplify and reduce the harshness of the superannuation guarantee (SG) charge”.

August 2015

Draft legislation to simplify SG – August 2015

Filed under: Australian Politics, Superannuation,

Treasury has published draft legislation that would implement the Government’s commitment in January “to simplify and reduce the harshness of the superannuation guarantee (SG) charge”.

Frydenberg promises action on post-retirement products – August 2015

Filed under: Australian Politics, Superannuation,

Assistant Treasurer Josh Frydenberg says the Government will be acting this year to encourage the development of a wider range of post-retirement superannuation products.

Government modifies superannuation governance changes – August 2015

Filed under: Australian Politics, Superannuation,

After a consultation process, the Government has agreed to make several changes to its proposed new governance regime for superannuation funds regulated by the Australian Prudential Regulation Authority (APRA).

July 2015

Government seeks changes to super fund governance - July 2015

Filed under: Australian Politics, Superannuation,

Assistant Treasurer Josh Frydenberg has released exposure draft legislation to implement the Coalition commitment to change governance in superannuation funds.

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