The Federal Government will kick off the multi-million dollar awareness campaign surrounding choice of superannuation fund in April.
A spokesperson for the Australian Taxation Office (ATO) said the primary target for the campaign would initially be employers, with the campaign getting underway with the direct mailing of an information pack and copies of the choice form which they will be obliged to provide to all new employees.
The spokesperson said supporting press advertisements will be running in the major metropolitan daily newspapers and business magazines at the same time with a community awareness information campaign targeting employees commencing in the electronic media later in the month. This will take place before an intensive and extended period of advertising gets underway in June.
According to the spokeswoman a range of Federal Government agencies will be working closely to ensure the successful implementation of the campaign.
This would see the launching of a website dealing with choice and would contain input from both the ATO and the Australian Securities and Investments Commission, and it is to be hosted by Treasury.
Underpinning the advertising and information campaigns will be call centres set up in similar fashion to those which supported the implementation of the Goods and Services Tax.
APRA-regulated funds have reportedly raised concerns with the government over Division 296, as news of potential policy tweaks makes headlines.
The CEO of one of Australia’s largest super funds says his outfit has become an expert at rolling with regulatory punches, but warned government interference in investment decisions would be a disaster for members.
A private member’s bill to allow for the splitting of super balances between spouses was introduced to the Senate on Thursday.
With the latest print of GDP figures overshooting economist expectations, analysts have warned that the Reserve Bank of Australia (RBA) could face a difficult policy path ahead.