Election result offers super system opportunity for policy stability

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A re-elected Coalition Government should ensure that the superannuation sector enjoys policy stability for the next three years, says SMSF Association CEO John Maroney. “After the introduction of the significant legislative changes that took effect on 1 July 2017, it’s essential that members of superannuation funds can have a period of sustained stability. “For self-managed […]

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ATO statistics send positive message about SMSFs

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The Australian Tax Office (ATO) annual SMSF statistics for 2016-17 tell a positive story about this $750 billion superannuation sector. SMSF Association CEO John Maroney says: “These statistics reveal an SMSF sector that has not only performed well but provides a positive outlook for its future growth and strong performance. “In the year under review, […]

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Two SMSF specialists join SMSF Association Board

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The SMSF Association has appointed two long-standing specialist members to its Board from 1 June. They are Tracey Scotchbrook, Vice Chair of the West Australian Local Community, and Michael Houlihan, Chair of the Victorian Local Community for the past four years. Association Chair, Dr Deborah Ralston, says it’s extremely gratifying to appoint two members to […]

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Bernie Ripoll joins SMSF Association board

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A Parliamentary Secretary in the former Gillard Labor Government, the Hon. Bernie Ripoll, is joining the SMSF Association board, effective immediately. Ripoll, who joined the Association’s Public Policy Committee in January 2018, will replace Cath Mulcare, who is stepping down after being a director since June 2015. Association chair Dr Deborah Ralston, who made both […]

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Andrea Slattery stepping down from SMSF Association board

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Andrea Slattery has announced she is stepping down as a non-executive director from the SMSF Association board, effective from 18 April. Slattery was Managing Director and CEO when she resigned from the Executive in April 2017 and became a non-executive Director of the Association. Her decision to resign from the board is to focus on […]

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Labor’s franking credit rebate deadline ‘disregards’ self-funded retirees

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The Labor Party’s confirmation today that if it wins office at the next federal election it will still abolish franking credit rebates from 1 July 2019 irrespective of whether the legislation has been passed shows a total disregard for self-funded retirees. SMSF Association CEO John Maroney says Shadow Treasurer Chris Bowen’s confirmation yesterday on its […]

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Give industry ‘appropriate’ time to remove grandfathering arrangements

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The SMSF Association says removing grandfathering arrangements for conflicted remuneration in relation to financial advice for retail clients “should be removed as soon as reasonably practicable”. In a submission to the Financial Services Reform Implementation Taskforce, Association CEO John Maroney says: “We support the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services […]

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LRBA ban ‘unnecessary’ if risk factors addressed

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The SMSF Association believes an outright ban on limited recourse borrowing arrangements (LRBAs) can be avoided by “mitigating” any risks relating to this self-managed super fund (SMSF) asset class. Responding to The Council of Financial Regulators (CFR) Report into LRBAs, Association CEO John Maroney says that the Council’s finding that LRBAs do not create a […]

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Increasing SMSFs from four to six members gets thumbs up

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The SMSF Association has thrown its weight behind the Federal Government’s proposal to increase the maximum number of members in a self-managed super fund (SMSF) from four to six. In its submission to the Senate Standing Committee on Economics, the Association says such an increase “will provide additional flexibility and choice in the superannuation system”. Association […]

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ACTU call for inquiry into SMSFs ‘unwarranted’

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The ACTU’s call for a fresh inquiry into the self-managed super fund (SMSF) sector based on the recent Productivity Commission (PC) Review of Superannuation is totally unwarranted, says SMSF Association CEO John Maroney. “It has been clearly demonstrated that the PC’s analysis showing SMSFs with less than $500,000 are underperforming the APRA-regulated funds used highly […]

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