Effective from July 1, 2017, the government intends to place a $1.6 million cap on the amount of superannuation that you can retain in, or transfer to, a super pension account. The government released an exposure draft of the proposed legislation for this measure on 27 September 2016. Final legislation is expected to be passed before the end of 2016.
Do you want to make your life easier, your superfund compliance easier and of course help make the administration of your superfund easier?
We go on and on about data feeds and the important role they play in your superfund’s administration and we are now finally starting to see this also flow across to the audit of superfunds.
I was interested but not necessarily surprised to read two articles this week relating to financial fortunes of the general Australian population. The first article talked about financial literacy, where a study by Zurich and Oxford University found that Australia ranked near the bottom of the tables. In the second article,