In the media – National

Government must look beyond super objectives
MEDIA - 15 April 2016 - The government must include subsidiary objectives around life insurance and non-superannuation savings when it moves to define the purpose of super in law, according to Rice Warner.  More...

Push to separate legacy issues from super purpose
MEDIA – 14 April 2016 - Key elements of the financial services industry are pushing for the Federal Government to avoid defining the purpose of superannuation within the existing legislative regime around superannuation.  More...

AIST wants independent super oversight body
MEDIA - 14 April 2016 - The Australian Institute of Superannuation Trustees (AIST) has urged the establishment of an independent, publicly-funded body tasked with assessing the degree to which future superannuation policy complies with the legislated purpose of superannuation.  More...

Objective of superannuation
GOVERNANCE INSTITUTE – 13 April 2016 - In October 2015, the Federal Government announced that it would develop legislation to enshrine the objective of superannuation, as part of its response to the Financial System Inquiry (FSI). The government has accepted the recommendation of the FSI that the objective of the superannuation system is to provide income in retirement to substitute or supplement the age pension.  More...

Status and seniority ruled out in TPD claims
MEDIA – 12 April 2016 – Maintaining previous job status and standing cannot be called upon to justify being determined totally and permanently disabled (TPD), according to a recent determination by the Superannuation Complaints Tribunal (SCT).  More...

CAANZ calls for salary sacrificing amendments
MEDIA – 12 April 2016 – Chartered Accountants Australia and New Zealand (CAANZ) has recommended adjusting legislation to prevent employers utilising their employee’s salary sacrificed superannuation contributions to satisfy their own superannuation guarantee obligations.  More...

Actuaries Institute urge Government to review entire superannuation system
MEDIA – 11 April 2016 – The Actuaries Institute is calling on the Government to develop comprehensive guidelines to give Australians a comfortable lifestyle in retirement that is both ‘equitable and flexible', in line with the Association of Superannuation Funds of Australia (ASFA) comfortable retirement standard.  More...

David Murray: Superannuation ‘objective’ likely to be captured by industry
MEDIA – 7 April 2016 - As the government moves closer to enshrining the objective of superannuation in legislation, it’s worth considering the unintended consequences that could come from such a move.  More...

ASFA Submission
SFA – 6 April 2016 – Submission to Treasury titled ‘Objective of Superannuation’.  More....

AIST Submission: Objective of superannuation
AIST – 6 April 2016 – AIST supports the primary objective for the superannuation being to provide retirement income for all Australians that, when combined with or in replacement of any public pension, ensures a reasonably comfortable living standard, in the spirit of fairness within and between generations.  More...

APRA: Helen Rowell’s speech ‘Governance and culture in superannuation’ at the AFR Banking & Wealth Summit

APRA – 5 April 2016 – Insights into some of the areas on which APRA will be focusing over 2016.  More...

Legislation – Commonwealth

Legislative Instruments

Tax and Superannuation Laws Amendment (2016 Measures No. 1) Regulation 2016
This instrument amends the A New Tax System (Goods and Services Tax) Regulations 1999 and the Superannuation Industry (Supervision) Regulations 1994 to make consequential amendments to account for changes to the tax law made by the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 and the Tax and Superannuation Laws Amendment (2016 Measures No. 1) Act 2016.  Registered:  15 April 2016.  More...


Chris Lovell, Chairman
T: +61 3 9321 9832
Paul Faure, Partner
T: 61 3 9321 9904
Bill Glover, Partner
T: 61 3 9321 9844

The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.


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