- Advocacy
SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the exposure draft regulations for the Better Targeted Superannuation Concessions. The proposed Division 296 tax together with this exposure draft are adding further and unnecessary complexity to a system that is already significantly complex.
Superannuation would benefit from simplification and the removal of red tape to improve member engagement, efficiency, and equity.
These measures will impose additional administration, reporting and regulatory burden on superannuation trustees across the sector. The costs incurred as a result will impact all superannuation fund members, not just those who are the target of this policy.
In response to these exposure draft regulations, our submission is limited to the operation of the regulations as proposed in the context of self managed superannuation funds (SMSFs).