MOving Ahead March 2017

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Welcome to the March edition of MOving Ahead! This publication is filled with legal and regulatory developments designed to help super trustees meet the challenge of minimising the impact and maximising strategic opportunities arising from regulatory change.

In this edition…

  • ASIC has released its report outlining the enforcement results it achieved during the period from 1 July to 31 December 2016;
  • ASIC has commenced proceedings against a financial advice provider for alleged FOFA contraventions; we look at how changes to the Privacy Act will impact trustees;
  • the Minister for Revenue and Financial Services has released draft superannuation income stream regulations for public consultation;
  • the ATO has released Law Companion Guidelines in respect of:
    • concessional contributions for defined benefit interests and constitutionally protected funds;
    • total superannuation balances;
    • the transfer balance cap; and
    • the transfer balance cap and transition-to-retirement reforms;
  • the Inspector-General of Taxation released his Submission to the Inquiry into Superannuation Guarantee non-payment; and
  • the Insurance in Superannuation Working Group has released a discussion paper addressing account balance erosion due to the payment of insurance premiums.

To read the full publication, please click here.

For further information, please do not hesitate to contact us.

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