News : Superannuation

Administration, Compliance, Contributions, Superannuation

Terminal illness rollover timing key

Rollover Terminal illness Condition of release ATO Contribution SMSF Self-managed superannuation

SMSF trustees diagnosed with a terminal illness can roll over their retirement savings to another fund, but a specific process must be followed to avoid adverse consequences.

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Legislation, Superannuation, Tax

Coalition will scrap Div 296 tax

Division 296 tax Luke Howarth

It has been confirmed the Division 296 tax will be revoked by the federal opposition should the coalition be returned to power at the next election.

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Regulation, Retirement, Superannuation

Policy lags behind advice demand

FSC Retirement income products Blake Briggs

Regulations and policies for retirement income products are currently outdated and need to be updated to serve the growing number of Australians with complex financial advice needs.

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ASIC, Compliance, Regulation, Superannuation

Mercer hit with $11.3m greenwashing penalty

Federal court ASIC Greenwashing Mercer Superannuation

The Federal Court has ordered Mercer Superannuation to pay a multi-million-dollar penalty after misleading members over the nature of its sustainable investment options.

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Superannuation

General TBC will rise to $2 million

transfer balance cap TBC superannuation Inflation CPI Craig Day Colonial First State

Inflation has risen enough to indicate the general transfer balance cap will increase again at the start of the of 2026 financial year.

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Pensions, SMSF, Superannuation

Terminal illness withdrawal choice crucial

Terminal medical condition Pension Lump sum Heffron Sean Johnston

Choosing how to access superannuation entitlements is a crucial consideration for terminally ill SMSF trustees as it can greatly impact the tax they will have to pay.

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Legislation, SMSF, Superannuation, Tax

Withdrawals can eliminate $3m cap liability

SMSF Self-managed superannuation SMSF Association Technical Summit Division 296 tax Liability Withdrawals Total superannuation balance

SMSF drawdowns can allow members to maintain a total super balance of $3 million or less and escape a Division 296 tax liability.

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Retirement, Superannuation

Make homes part of retirement funding

Retirement income Housing Home Superannuation Actuaries Institute Andrew Boal

The homes of retirees should be considered in discussions about funding retirement incomes, with changes made in pension policies to make it more attractive to drawn down on equity.

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Contributions, Regulation, Superannuation

General TBC likely to rise again

CPI Consumer price index AWOTE General transfer balance cap Concessional contribution cap Non-concessional contribution cap

Superannuants are likely to experience further increases in the general transfer balance cap in the coming years due to indexation.

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Retirement, SMSF, Superannuation

Leave payments may block super release

MLC TechConnect Julie Steed Superannuation Definition of Retirement Termination of employment

SMSF members ending work may not be retired from a super standpoint if they continue to receive any form of employer payments, which may restrict access to their savings.

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