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 regarding Senate Committee report recommended delaying the start date.
See below for detail about this Bill.
FJM 20.8.19
