Assistant treasurer Stuart Robert has used a speech to the Alliance for a Fairer Superannuation System to announce the Government plans to change the law to ensure that death benefits that include life insurance proceeds are not subject to tax when rolled over to a new super fund.
The Minister announced several other technical superannuation changes, including:
The SMSF Association today welcomed the death benefits proposal, with chief executive John Maroney saying that it was “extremely important” to people who had been waiting for an amendment before dealing with death benefit sums.
While Maroney was also in favour of the TBC and market-linked pension changes, he called on the Government to further consider unresolved technical superannuation fixes as per previous submissions by the Association.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
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