Welcome to the latest issue of the KHQ Super Alert. The long-awaited final report of the Retirement Income Review was published this week by Treasury. ASIC also released a consultation paper seeking industry feedback on affordable advice options for consumers, and a report in relation to insurance in superannuation. Retirement Income Review – Final report … Read more
Welcome to the latest issue of the KHQ Super Alert. It has been a busy week with the introduction of another Royal Commission Bill before Parliament which deals with a number of outstanding recommendations such as the anti-hawking and ‘no other role for superannuation trustees’ rules. APRA has also had a busy week, releasing FAQs … Read more
Welcome to the latest issue of the KHQ Super Alert. The Senate has released the transcripts from its Budget estimates hearings which provide useful insights into upcoming legislative changes in the industry. The Government is also seeking feedback in relation to its review of the Privacy Act. Attorney General’s Department – review of Privacy Act … Read more
Welcome to the latest issue of the KHQ Super Alert. It has been a quieter week in the industry this week. The main noteworthy news item relates to APRA’s release of new frequently asked questions for its superannuation data transformation project. Parliament – Bill for SCT closure On 28 October 2020, the TrSeasury Laws Amendment … Read more
The Australian Taxation Office amnesty for unpaid superannuation ended on 7 September 2020. Based on the work Alex Bevacqua, Biya Sun and Prath Balasubramaniam have done with corporate clients, human resource managers, payroll officers and legal counsel still have a fundamental misunderstanding in relation to their superannuation obligations for workers and service providers (both employees and … Read more
Welcome to the latest issue of the KHQ Super Alert which is being sent out on a Monday due to the Victorian public holiday last week. The key news item from last week relates to the Treasury’s release of exposure draft legislation proposing a number of changes to the SIS Act and regulations in relation … Read more
Welcome to this week’s issue of the KHQ Super Alert. APRA has published a number of materials this week including its annual report, the latest speech from its Deputy Chair, and a reminder to trustees about the application of the controlling stake requirements in the SIS Act. APRA – Review of controlling stake requirements On … Read more
Welcome to this week’s issue of the KHQ Super Alert. APRA has clarified the interaction of JobKeeper payments and the work test for personal contributions, and provided a reminder to trustees about SPS 515 compliance. ASIC has announced that Victorian-based financial advisers will obtain some small relief from non-compliance with certain obligations. APRA – work … Read more
Welcome to this week’s issue of the KHQ Super Alert. The numerous updates this week seem to indicate that regulatory activity in the industry is picking up again. The key news for this week is that the government has extended the time limits for the operation of several COVID-related relief measures and ASIC has made … Read more
