SMSF Association Submission – Legislating the Objective of Superannuation – Exposure Draft

The SMSF Association welcomes the opportunity to provide this submission in response to the
exposure draft legislation for the Government’s proposal to legislate the objective of superannuation.

We thank Treasury for their engagement and response to feedback provided on the objective of
superannuation consultation paper, adopting recommendations to:

1. Legislate the objective in standalone legislation.
2. Ensure the objective is clear and self-contained with clear definitions, operative and
   interpretive provisions.
3. Make clear that the objective is to apply solely in the context of policy design and
   implementation only and does not affect the operation of existing laws. This ensures it does
   not extend beyond this remit to other stakeholders such as regulators or superannuation trustees and does not change the operation or interpretation of existing superannuation law, prudential standards or governing rules of superannuation entities. 

Read the full submission below.