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

[Tax July – August 2019]

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