In the media
Superannuation guarantee remains a
challenge
MEDIA - 28 February 2013 - Mandated increases in the superannuation
guarantee (SG) are still testing for employers, according to
research from Aon Hewitt, with 58 per cent of organisations are yet
to determine their response to the increases beyond the end of the
year. More...
Survey reveals many employers yet to assess the full
impact of super reforms
MEDIA - 27 February 2013 - A significant number of Australian
employers are yet to fully assess the impact of the upcoming
Stronger Super reforms on their operations, and more than half
don't have a plan in place to ensure compliance, a new survey
has revealed.
More...
MySuper applications rejected
APRA - 27 February 2013 - The Australian Prudential Regulatory
Authority (APRA) has rejected approximately six MySuper licence
applications due to deficient policies or incomplete or incorrect
information, according to APRA.
More...
Super assets ramp up to $1.51 trillion in
2012
MEDIA - 22 February 2013 - Superannuation assets enjoyed a 14.6 per
cent boost for the 12 months ended 31 December 2012, according to
the Australian Prudential Regulation Authority's (APRA's)
December 2012 Quarterly Superannuation Performance publication. More...
AFA mulls fresh approach to FOFA code of
conduct
MEDIA - 19 February 2013 - AFA is taking into account the views of
advisers and licensees before deciding if the organisation should
have an ASIC approved code or a two-part code with only the part
relevant to obviating the need for opt-in approved by ASIC. More...
Run only to benefit members' model delivers better
returns over the medium to long term
INDUSTRY SUPER NETWORK - 20 February 2013 - The latest SuperRatings
data released today shows that industry super funds have, on
average, outperformed retail funds - largely owned by major banks -
over three, five, seven and 10 years. Industry super funds
outperform because of low fees, no commissions, diversified
investments.
More...
AFA to build practical code of conduct
MEDIA - 19 February 2013 - Association consulting with advice
profession to ensure comprehensive outcome. The Association of
Financial Advisers (AFA) will use the extended time frame for the
opt-in component of Future of Financial Advice (FOFA) reforms to
"get it right" with its code of conduct. More...
Quarterly superannuation statistics for December
2012
Author: Australian Prudential Regulation Authority (APRA) The
December 2012 Quarterly Superannuation Performances publication (21
February 2013). More...
SuperSeeker Upgrade
The popular online tool SuperSeeker has been improved to allow
people to see and do more with their super. Once registered, people
will be able to see the super accounts that they have contributed
to in the previous two financial years, as well as super money held
by the ATO. For more information and to access SuperSeeker, visit
www.ato.gov.au/superseeker
(27 February 2013).
Superannuation Approved Audit Report Form
Released by the Australian Prudential Regulation Authority (APRA),
the Approved Audit Report Form for reporting periods commencing on
or after 1 July 2012 ( February 2013)
Audit Report Form (pdf version with notes) (
word version).
Legislation
Commonwealth
Bills
Tax and Superannuation Laws Amendment (2013 Measures No.
1) Bill 2013
Registered 20 February 2013, Introduced HR 13 February 2013.
A Bill for an Act to amend the law relating to taxation and
superannuation, and for related purposes.
Administered by Treasury. More...
Legislative Instruments
Superannuation Industry (Supervision) Amendment
Regulation 2013 (No. 1)
SLI 14/2013
Tabled Senate 25 February 2013 Date of Ceasing, Ceased 20
Feb 2013 on the first moment of the day. This regulation amends the
Superannuation Industry (Supervision) Regulations 1994 to prescribe
the details of the electronic portability request scheme. The
scheme allows superannuation fund members to electronically request
the rollover or transfer of their benefits from their fund through
the Australian Taxation Office. More...
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.