- Advocacy
SMSF Association Submission
Securing Australians’ superannuation
Chartered Accountants Australia and New Zealand, CPA Australia, the Institute of Public Accountants, the SMSF Association, Financial Advice Association Australia and The Tax Institute (together, the Joint Bodies) write to you as the peak professional accounting and tax practitioner bodies in Australia representing the tax profession, the superannuation sector and financial advisers. The Joint Bodies welcome the opportunity to make a submission to the Treasury in relation to the consultation paper titled ‘Securing Australians’ Superannuation’ (Consultation Paper).
In the development of this submission, we have closely consulted with members of the Joint Bodies who have specific knowledge, experience and expertise in taxation, superannuation and, specifically, the Superannuation Guarantee (SG) regime.
We set out below our responses to the issues and ideas raised in the Consultation Paper. We have limited our responses to those matters we consider are the most relevant from a tax and superannuation policy and administration perspective.
Our submission is quite technical in nature and contains a significant amount of detail. As noted throughout, the proposed change to a Payday super (PdS) model is complex and its successful implementation depends on a multitude of factors. We trust that the detail in our submission will assist the Government and relevant government agencies to better understand the underlying issues, and design the system to best achieve the underlying policy intent while being simpler, more efficient and equitable.
We would be pleased to work with the Government to further discuss the points raised in our submission. The Joint Bodies can provide the Government with access to the range of tax technical and industry experts who have contributed to our submission.
Read the full submission below.