New Ministers welcomed by SMSF Association

SMSF Association Media Release

27 August 2018

The SMSF Association congratulates Josh Frydenberg, Stuart Robert and Zed Seselja in their appointments as Treasurer, Assistant Treasurer and Assistant Minister for Treasury and Finance, respectively, in the new Coalition Government under Prime Minister Scott Morrison.

Association CEO John Maroney says the Association looks forward to working closely with these Ministers at a critical time for superannuation and the financial services industry more broadly.

“The FASEA reforms, the Financial Services Royal Commission and the Productivity Commission report will all generate critical issues for the industry and consumers, and the Association is keen to being involved in these discussions with all three Ministers.

“The Association has had previous dealings with Josh Frydenberg when he was Assistant Treasurer, and based on that experience we are confident he will listen closely to our views on the issues that are likely to emerge over the coming months.

“We would also like to update the Ministers on our opposition to Labor’s proposal to cancel cash refunds for excess dividend imputation credits, and why we believe it would be highly detrimental to those SMSF trustees and members who have worked hard to be self-sufficient in retirement.”

The Association also looks forward to working with Prime Minister Scott Morrison on key issues facing the superannuation and financial services sector. The Association has previously had a constructive working relationship with Mr Morrison as Treasurer, allowing for frank and robust discussion when he was responsible for reforming the superannuation tax concessions.

Maroney says the Association would like to put on the record its thanks to Kelly O’Dwyer, who worked closely and cooperatively with the Association in her role as Minister for Revenue and Financial Services.