An important year for trustees of superannuation funds came to a close with several major reform Bills now before Parliament. The year ahead doesn’t appear to be much quieter from a legislative and regulatory change perspective, with new reviews initiated focusing on retirement and insurance in superannuation.

There were also technical changes to keep policy wonks busy, with the ATO issuing guidance on taxation treatment of both adviser service fees and a draft determination on the deductibility of payments from a fund to the trustee to be used as a quasi-risk reserve.

The long-standing deferral of the consistency requirement under s29QC of the SIS Act enters its second decade with a further two years relief. 

Jonathan Steffanoni - Managing Partner
QMV Legal

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