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.
Recommended for you
ASIC has commenced civil penalty proceedings in the Federal Court against superannuation trustee Diversa Trustees, regarding the First Guardian Master Fund.
The winners have been announced for the 2025 Super Fund of the Year Awards, held in Melbourne on 26 November by Money Management's sister brand Super Review.
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
