Superannuation was not subjected to the glare of the spotlight in last night’s federal budget as strongly as it has been in recent years, however, a collection of smaller changes will still provide opportunities for clients, particularly for those with SMSFs, according to industry executives.

The 2018 federal budget measure allowing individuals earning in excess of $263,157 a year from multiple employers to nominate a single employer from where super guarantee (SG) contributions will be made has been described by an industry technical expert as a common-sense move that should have been implemented years earlier.

Raising the superannuation access age beyond 60 would negatively affect many people and provide few economic or social benefits, according to a doctor of law.

The Tax Institute has said it is fundamental to get back to a simpler superannuation system and try to avoid any further tinkering to the system in the short to medium term.

I suppose I should be grateful. When the Turnbull government announced a royal commission into banks and financial services last year, it explicitly excluded SMSFs. It seemed our superannuation sector was out of the woods.

The timing of the downsizer contribution in superannuation is vital, particularly if the SMSF client qualifies for non-concessional contributions (NCC), according to a technical expert.