SMSF Association submission on superannuation policy priorities

The SMSF Association congratulates the Government on its re-election for a third term. We believe this provides a significant opportunity to pursue a policy platform to strengthen the superannuation sector, while seeking stability of the sector over the longer term to build confidence.

In doing so, we ask that the following policy priorities be considered:

1. Legislating the objective of superannuation
2. Maintaining ongoing stability
3. Increasing opportunities to contribute to superannuation
4. Creating a spousal rollover for superannuation assets
5. Ongoing simplification of superannuation, including:
   – An amnesty for legacy pensions
   – Addressing the superannuation residency test
   – Streamlining total superannuation balance thresholds
6.  Strengthening SMSFs and choice of superannuation by:
   – Raising the standards of SMSF advice
   – Addressing limited recourse borrowing arrangement (LRBA) risk
   – Addressing issues with superannuation data
   – Addressing issues relating to extremely large superannuation balances