Treasury consultation on superannuation reform package

The Government has released for public consultation the exposure draft legislation: Superannuation (Objective) Bill 2016; Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016; and Treasury Laws Amendment (Fair and Sustainable Superannuation) Regulation 2016 to implement the following five superannuation measures announced in the 2016-17 Budget:

• the objective of superannuation;

• tax deductions for personal superannuation contributions,

• improve superannuation balances of low income spouses;

• introduce a Low Income Superannuation Tax Offset (LISTO); and

• harmonising contribution rules for those aged 65-74.

The Government will continue to work with stakeholders to progress implementation of the other measures announced in the 2016-17 Budget.

Enquiries

For enquiries please call Michelle Dowdell +61 2 6263 3071 (enshrining the objective of superannuation in legislation); Jessica Carew +61 2 6263 2548 (other policy queries); or Phil Bignell +61 2 6263 4372 (law design).

Confidentiality and lodging your submission

Please ensure you have read our information on confidentiality and personal information prior to making a submission.

Source: The Treasury