The Assistant Treasurer recently announced four key changes to our superannuation laws.
Given the spotlight placed on Australia’s super system during the Royal Commission hearings, it likely won’t surprise you to know the Morrison Government has plans for how it’s going to make changes to you and your clients’ super.
Speaking at a conference in Adelaide, Assistant Treasurer Stuart Robert said the Government “[respects] the fact that superannuation is both an integral part of the financial system and Australia’s retirement income system,” meaning any changes need to be “carefully considered and calibrated.”
Having said that, here’s what the Government is proposing:
Robert explained the Government’s Protecting Your Superannuation Package Bill” as protecting against “inefficiencies that result from Australians inadvertently holding multiple superannuation accounts.”
It will empower the ATO to reunite Australians with lost super and puts a cap on “certain fees that can
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