SPAA tells Govt hands off superannuation
Suggestions that the Federal Government intends tapping the superannuation industry and, particularly self-managed superannuation funds (SMSFs), to bolster its promised Budget surplus, have raised the ire of the Self-Managed Super Fund Professionals' Association (SPAA).
SPAA chief executive Andrea Slattery has warned against such a move, arguing that that it would be "unthinkable for this Government to alter the superannuation architecture once again".
Further, she said that a real pattern was emerging under the current Government where, on the one hand, it was handed a report talking about a $1 trillion retirement incomes shortfall, while on the other hand it continued to see people's superannuation savings as a short-term fiscal measure.
At the same time, Slattery said it was time to bury the old chestnut that SMSFs were not appropriately regulated.
She said it needed to be understood that SMSFs were regulated by the Australian Taxation Office, with every fund audited every year.
AUTHOR
Staff Writer
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