MOving Ahead May 2017
By Luke Hooper, Special Counsel
Welcome to the May edition of MOving Ahead! This publication is filled with legal and regulatory developments designed to help super fund trustees meet the challenge of minimising the impact and maximising strategic opportunities arising from regulatory change.
In this edition…
- Treasury releases draft legislation for consultation in respect of ASIC’s costs recovery mechanism and the proposed Australian Financial Complaints Authority
- The value of Commonwealth penalty units increases to $210
- The Australian Accounting Standards Board releases guidance in respect of superannuation fund financial reporting
- The ATO releases Law Companion Guidelines in respect of defined benefit income stream caps and superannuation death benefits and the transfer balance cap
- The Senate Economics Reference Committee releases its report and recommendations into ways to alleviate the non-payment of superannuation guarantee
- The Insurance in Superannuation Working Group releases its third discussion paper
- The Government requests the Productivity Commission to undertake an inquiry into competition in Australia’s financial system
- The 2017 Federal Budget delivered comparatively few taxation changes that will impact superannuation funds
- Treasury releases consultation papers to address the growing costs of the Fair Entitlements Guarantee Scheme and in respect of certain FOFA measures
To read the full publication, read here.
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