Welcome to the latest issue of the KHQ Super Alert. This week Parliament passed Bills to make changes to ASIC’s product intervention powers and to establish the Financial Regulator Assessment Authority. The Bill to establish a single disciplinary body for financial advisers was also introduced. The ATO has also issued a reminder to trustees in … Read more
Welcome to the latest issue of the KHQ Super Alert. Several superannuation Bills have been passed this week including the significant Your Future, Your Super reforms. Parliament has also amended the ‘bring forward’ rules for non-concessional contributions, set the new interest rate for family law splits and made changes to the AML/CTF Rules. Parliament – … Read more
Intestate estate where deceased twice ‘tribally married’ – Re Estate of Bunduck [2021] NTSC 12 (unreported BC202103987) The deceased was an Indigenous man who died intestate. He was survived by his wife and four adult children. He had married his wife in a tribal ceremony. The Northern Territory intestacy provisions require that where the value … Read more
Welcome to the latest issue of the KHQ Super Alert. This week the ATO released an updated ‘roadmap’ of changes to come for the superannuation industry, and information for trustees about its ‘Super Enquiry Service’. APRA also published further guidance for trustees to get ready for APRA Connect. ATO – Updated industry changes roadmap On … Read more
Welcome to the latest issue of the KHQ Super Alert. This week the government announced it would extend the temporary changes to minimum pension drawdown rates for another year. Treasury commenced consultation in relation to some family law matters, and the Your Future, Your Super Bill will now move to the Senate after the House … Read more
Welcome to the latest issue of the KHQ Super Alert. Amendments were proposed this week to the Your Future, Your Super Bill which is currently before Parliament. APRA has released the latest statistics for the superannuation industry and Treasury is requesting feedback in relation to proposed changes to the calculation of exempt current pension income. … Read more
Have you seen the movie “The Father” yet? The film, starring Anthony Hopkins, addresses the struggles of an octogenarian who suffers from dementia and feels abandoned when his daughter is moving from London to Paris. It is a film full of confusion, distress and accusations, not only from the main character’s point of view but … Read more
Welcome to the latest issue of the KHQ Super Alert. This week APRA published a speech delivered by Helen Rowell which focused on APRA’s expectations for underperforming funds and Senator Jane Hume published a speech with similar comments. Additional guidance has been issued by APRA in relation to APRA Connect and regulations have been registered … Read more
Significant development in the evolving gig economy case law Yesterday’s decision by Commissioner Cambridge in Diego Franco v Deliveroo Australia Pty Ltd [2021] FWC 2818 has given the gig economy another good regulatory shake, after it was determined that a Deliveroo driver was an employee rather than an independent contractor. The decision puts both sides … Read more
