The Senate Economics Committee is busy with several superannuation related bills currently being scrutinised. We expect committee reports on the Better Targeted Superannuation Concessions and Objective Bills in the coming months.

The Bill which seeks to exempt trustees of APRA regulated superannuation funds from NALE tax and adjust AFCA’s jurisdiction remains in the Senate and wasn’t prioritised for debate during February, we hope to see passage soon.

There was further consultation by APRA in relation to changes to the ORFR standard and guidance, and ASIC released findings concerning trustee oversight of investment performance of Choice products.

There were also some interesting criminal law developments which are relevant to trustees of superannuation funds.

Jonathan Steffanoni- Managing Partner
QMV Legal

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