Australian Superannuation Legislation 2020 (26th Edition)

Consolidated to 1 January 2020, this edition reflects the numerous recent changes to superannuation law and is essential for the bookshelf of any superannuation practitioner. The title ensures readers are up to date with the extensive changes to superannuation law enacted by the Federal Government.

Major changes covered include:

• A range of legislated measures targeting employer non-compliance with superannuation guarantee (SGC) obligations, including enabling the Commissioner to issue non-compliant employers with directions to pay unpaid superannuation guarantee and to undertake superannuation guarantee education courses, allowing the Commissioner to disclose more information about superannuation guarantee non-compliance to affected employees and broadening single touch payroll reporting to all employers;
   
• Implementation of Protecting Your Super Package announced in the 2018/19 Federal Budget, including amendments to prevent trustees of superannuation funds from charging certain fees and costs exceeding 3% of the balance of a MySuper or choice product annually where the balance of the account is below $6,000, measures relating to insurance for superannuation members and measures relating to inactive low-balance accounts and consolidation into active accounts; and
   
• Measures to prevent trustees from providing insurance on an opt-out basis to certain members who are under the age of 25 years and begin to hold a choice or MySuper product.

• Superannuation Industry (Supervision) Act and Regulations
• Superannuation (Resolution of Complaints) Act and Regulations
• Superannuation (Government Co-contribution for Low Income Earners) Act and Regulations
• Superannuation Guarantee (Administration) Act and Regulations
• Superannuation (Unclaimed Money and Lost Members) Act and Regulations
• Rating Acts
• Extracts of Income Tax Assessment Act 1997 and Regulations
• Extracts of Income Tax (Transitional Provisions) Act 1997 and Regulations
• Extracts of Taxation Administration Act
• Extract of Corporations Act 2001