Protecting Superannuation Package Bill – Senate Committee recommends passing these measures to ‘cap or ban’ certain fees, require ‘opt-in’ only insurance and ‘low balance’ aggregation

Tax Month - August 2018

The Senate Economics Legislation Committee has released its report into the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018 and recommended that the Bill be passed. The measures include: SUPER FEES – capped at 3% per year for administration fees, investment fees and “prescribed costs” charged on super accounts with balances less than $6,000.…

ACNC – draft ‘Conduct standards’ for charities operating overseas – to protect against criminal elements, corruption and protect vulnerable persons

Tax Month - August 2018

On Monday 13 August 2018, the Treasury released exposure draft regulations proposing external conduct standards that charities registered with the Australian Charities and Not-for-profits Commission (ACNC) will need to comply with when operating outside Australia. These would be ‘reasonable steps’ and reporting standards, with regard to (1) criminal risks and obeying Australian laws (even overseas);…