Both the Government and Federal Opposition have been reminded of their bipartisan commitment at the last Federal Election to not unnecessarily tinker with the superannuation policy settings.
The chief executive of the SMSF Association, Andrea Slattery issued the reminder during the opening of her association's nation conference in Melbourne where she pointed the the forthcoming Tax White Paper and discussion around the cost of superannuation tax concessions.
She said that in the context of the comments of the major parties before the last election there needed to be a clear understanding of the dramatic impact any changes to the superannuation tax settings would have.
She also echoed the words of her organisation's patron, Sir Anthony Mason, in calling for a united industry voice on superannuation policy issues.
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.