Latest superannuation articles
October 2011
APRA Discussion Paper on prudential standards for superannuation
The Australian Prudential Regulation Authority (APRA) has released a Discussion Paper on prudential standards for superannuation, which outlines the range of topics to be covered and the key requirements APRA expects to include in each standard.
Challenge to Superannuation Guarantee Charge Fails in High Court
The High Court has upheld the Superannuation Guarantee Charge and its underlying legislation.
Tax Forum - State tax changes
Treasurer Wayne Swan backed a review of inefficient state taxes but ruled out funding their replacement from Commonwealth taxes.
Tax Forum - Company Tax changes
Treasurer Wayne Swan announced he was establishing a Task Force to provide an initial report in November 2011 and Final Report in March 2012 on changes to company tax arrangements which could allow companies facing a tax loss to receive a refund (clawback) – a measure to address manufacturing industry problems and the “patchwork” economy.
Tax Forum - Personal Tax changes foreshadowed
Treasurer Wayne Swan foreshadowed a further increase in the personal tax-free threshold (beyond the increase to $18,200 announced as part of the Carbon Price package) to $21,000 – at an unspecified future date.
Tax Forum - Superannuation changes foreshadowed
Treasurer Wayne Swan foreshadowed further superannuation changes to make deferred annuities more tax effective.
Tax Forum and Future Jobs Forum
The Federal Government hosted two important forums on 4-6 October 2011 – The Tax Forum and the Future Jobs Forum.
Stronger Super and Second Tranche – Future of Financial Advice
The Government has taken the next – and possibly the most significant – step in implementing its broad-ranging superannuation reforms.
Details of Stronger Super – from the Government’s implementation announcement
MySuper, a new simple, low cost default superannuation product will be offered from 1 July 2013
Opposition reaction to Stronger Super implementation plan
The Coalition said that while it welcomed any changes “which make our superannuation system more efficient, transparent and competitive, and which improve value for super fund members,” it was “disappointed that important recommendations to improve competitiveness and corporate governance in super have been ignored.”