News : Superannuation

Compliance, Legislation, Regulation, Superannuation

Super objective scope unclear

Superannuation objective

Draft legislation to enshrine the objective of superannuation into law does not include any guidance as to whether auxiliary measures would need to align with it.

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Business News, Superannuation

Betashares expands into super

Betashares superannuation Bendigo Adelaide Bank

ETF provider Betashares will offer superannuation products after agreeing to purchase the super operations of Bendigo and Adelaide Bank.

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Superannuation

Australians eye early super access

Early access superannuation

A majority of Australians would access their superannuation savings early, primarily to ease the strain of increasing living costs and finance home purchases, if they had the option.

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Retirement, Superannuation

Retirees struggling with complex system

Retirement cost of living financial literacy

Many Australian retirees face difficulties in understanding the retirement system and lack confidence in managing their finances for retirement.

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ATO, NALI/NALE, Superannuation, Tax

Recent rulings give NALE glimpse

ATO NALE private binding rulings

Two private binding rulings issued by the ATO in the past six months have hinted at how the NALE rules for general expenses will be applied.

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Compliance, Contributions, Strategy, Superannuation

Excess contribution refund needs approval

Excess concessional contributions refund

SMSF trustees who exceed their concessional contribution cap limit should wait for the ATO to issue a release authority before seeking a release of the excess funds.

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Legislation, Retirement, Superannuation

Bills highlight unfair super treatment

superannuation retirement income objective legislation

Superannuation is unfairly treated in the wider retirement income landscape, with recent draft bills highlighting governments regard it as an easy target.

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Regulation, SMSFA, Superannuation

Objective needs clarification

Objective of superannuation

The proposed objective of superannuation requires a more precise definition due to the presence of vague terms in the statement.

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Pensions, SMSF, Superannuation

SMSFs lead pension transition

pension phase SMSF APRA funds Class

Far more SMSF members over 65 are in pension phase compared to APRA-regulated fund members, highlighting the different levels of engagement in the two sectors.

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