SMSF Association welcomes Government’s Tax Discussion Paper

The SMSF Association (SMSFA) today welcomed the release of the federal government’s Tax Discussion Paper by Treasurer Hockey today and said it looked forward to contributing to the debate on Australia’s future taxation system.

Managing Director and CEO Andrea Slattery said: “The discussion paper is a broad ranging document that has the potential to kick-off a wide debate in the community, including the tax settings for superannuation and retirement benefits.

“We particularly welcome the stated focus on ‘fairness and complexity’ of the tax system, which are logical starting points for a discussion of such magnitude and importance.

“It is good to see that the Tax Discussion Paper has acknowledged the broader retirement income goals of superannuation and its interaction with the age pension.

“These are important aspects of the retirement income system and must be taken into account when discussing any reform.

“The SMSF Association will be actively engaging in that discussion as the debate moves forward to the Green Paper stage later this year and a White Paper next year.

“In the first instance the SMSF Association will be providing information to our members and consulting with them to ascertain their views on the issues raised before making a formal submission on the paper,” Mrs Slattery said.