Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019 – require insurance, in superannuation funds, be provided on an opt-in basis for: (i) account balances less than $6,000; and (ii) members under 25 years old

Tax Month - July 2019

The Government introduced the Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019  on 4 July 2019, to effect amendments that would require insurance, in superannuation funds, be provided on an opt-in basis for: (i) account balances less than $6,000; and (ii) members under 25 years old – commencing on on or after 1 October 2019. See related Tax Technical article…

‘Opt-in’ insurance in super funds for members under 25 or with sub $6,000 account balances – Senate Committee’s report tabled

Tax Month - August 2019

The Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019 was  introduced on 4 July 2019 (and at the time of writing, had not progressed past that point). It proposes to require insurance within superannuation be provided on an opt-in basis for: (i) account balances less than $6,000; and (ii) members under 25 years old. On Tuesday 23.7.19, the…

Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2019 reintroduced – SGC opt out for some employers of multi-employer members; NALI provisions extended to non-arm’s length expenses and ‘Total Superannuation Balance’ to include LBRA balances in some cases

Tax Month - August 2019

The Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2019 was introduced in the House of Reps on Wed 24.7.2019 (and, at the time of writing, had not progressed pass first reading stage). It re-introduces measures in the similarly named  2018 Bill (which lapsed when Federal Parliament was prorogued for the Federal election). See…