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.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
Add new comment