SMSF Association Submission
The SMSF Association has lodged its pre-budget submission for the 2018-19 Federal Budget with Treasury. This year our submission focuses primarily on improving the efficiency of the superannuation system.
After the introduction of the significant legislative changes which came into effect on 1 July 2017, it is essential that superannuation fund members continue to have a period of stability. We note the Government has stated they have no intent on any further changes to the superannuation rules in the foreseeable future.
In this submission, the SMSF Association highlights issues including:
- ongoing consideration to integrating policy settings for superannuation and the age pension for efficient outcomes for the broader retirement income system
- re-commitment to the increase in the Superannuation Guarantee to 12 per cent
- SMSFs are a source of funding for domestic infrastructure, social impact investment and commercialising innovation
- increased transparency regarding the SMSF levy, and
- red-tape issues impeding the superannuation system.