Super dominates life industry
MEDIA – 13 November 2015 – Superannuation has once
again been revealed as the dominant element in the Australian
Prudential Regulation Authority's (APRA)
quarterly Life Insurance Trends data. Significantly, superannuation
assets in life office statutory funds stood at $176.8 billion for
the quarter, representing an increase of 8.9% over the same period
ISA Refocus – Tax Discussion Paper Submission
INDUSTRY SUPER AUSTRALIA – 11 November 2015 – Industry
Super Australia's (ISA's) second
submission to the Tax Discussion paper. This submission models an
indicative package of reforms to show how tax and transfer settings
in respect of retirement income could not only be more coherent,
but also more efficient.
Tax reform may include superannuation tax
MEDIA – 10 November 2015 – The Federal Treasurer has
signalled changes to superannuation tax might form part of the
Government's plans for reform, indicating he is interested in a
Deloitte Access Economics proposal to make higher income earners
pay more on their superannuation contributions.
Superannuation funds one step closer to independent
GOVERNANCE INSTITUTE – 10 November 2015 – The Senate
Economics Legislation Committee tabled its report this week on the
Superannuation Legislation Amendment (Trustee Governance) Bill
2015, which introduces one-third independent directors and an
independent chair for all APRA-regulated superannuation funds. More...
ASFA – 10 November 2015 – QROPS update: HMRC advises
how to make application for relief.
Union super trustees uncovered by increased APRA
MEDIA – 5 November 2015 – The Federal Treasury has
confirmed to the Parliamentary Committee reviewing the
Government's legislation that the increased powers being
granted to APRA will only apply to independent directors.
Harrison v Retail Employees Superannuation Pty
Limited and Anor  NSWSC 1665
CONTRACTS – General contractual principles –
Construction and interpretation of contracts – Proper
construction and application of insurance policy –
Construction of the term "total and permanent
disablement" – Insurance Contracts Act 1984 (Cth) s
54. INSURANCE – General – Policies of insurance
– Group policy insurance – Proper construction of
policy – Claim for total and permanent disablement benefit
for an insured member. SUPERANNUATION – Benefits –
Matters affecting entitlement to and payment of – Group
policy insurance – Construction of policy – Date of
occurrence of totally and permanently disabled. More...
Treasury Legislation Amendment (Repeal Day 2015) Bill
A Bill for an Act to amend the law relating to corporations,
superannuation and taxation, including General outline and
financial impact; Superannuation guarantee charge reforms; Lost
members and unclaimed superannuation reforms; Modify 'in
receivership' rules; Repeal of inoperative acts and provisions
of the taxation law. Registered: 12 November 2015. More...
Superannuation Legislation Amendment (Trustee
Governance) Bill 2015
Amends the Superannuation Industry (Supervision) Act 1993 to
require trustees of registrable superannuation entity licensees to
have a minimum of one-third independent directors and an
independent Chair on their boards; and make consequential
amendments; and Governance of Australian Government Superannuation
Schemes Act 2011. Senate: 9 November 2015: Introduced and read a
first time / Second reading moved.
Anti-Money Laundering and Counter-Terrorism Financing
Rules Amendment Instrument 2015 (No. 2)
This instrument amends the Anti-Money Laundering and
Counter-Terrorism Financing Rules Instrument 2007 (No. 1) Rules
relating to customer identification and compliance reporting
periods. Registered: 11 November 2015. More...
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