Super Alert – 20 November 2020

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

Employer obligations: Superannuation Contributions – Myth busting

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

Super Alert – 2 October 2020

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

Super Alert – 11 September 2020

Welcome to this week’s issue of the KHQ Super Alert. This week the Federal Court determined that documents produced in accordance with ASIC notices will not attract legal professional privilege in some circumstances, and the ATO updated its guidance in relation to wind-up obligations for APRA-regulated funds. Parliament – Economics Committee hearings On 10 September … Read more