- Advocacy
SMSF Association Submission – Better Targeted Superannuation Concessions: Consultation Paper
The SMSF Association welcomes the opportunity to provide this submission in response to the Better Targeted Superannuation Concessions Consultation Paper. The Association’s submission is set out in three parts.
- PART 1 – Introductory letter and overview
- PART 2 – Consultation Questions and Recommendations
- PART 3 – Case Studies
The SMSF Association agrees the objective of superannuation should not be to provide tax concessions for individuals with excessively large superannuation balances. However, the superannuation system already contains a myriad of contribution caps and balance thresholds, some of which over time will address the issues that the proposed model also seeks to address. The SMSF Association has been a long-term advocate of the need to simplify the rules by reducing the number of superannuation caps and thresholds. The proposed model achieves the exact opposite and risks making a complex system even more complex.