Govt urged to stop superannuation tinkering
With the Federal Government expected to release its Stronger Super changes as early as today, a key section of the superannuation industry has called for an end to tinkering around Australia's superannuation laws.
Institute of Chartered Accountants in Australia head of superannuation Liz Westover referenced recent changes announced with respect to self-managed superannuation funds (SMSFs) and said they should be completed and stabilised.
"Further tinkering with the system could be detrimental to consumers' confidence," she said.
Westover said advisers were continuing to face a raft of legislative changes which were impacting on the way clients are being advised.
Westover's comments flowed out of Institute's National SMSF conference which she said had driven home upcoming changes to the laws governing the SMSF industry and how recent changes could and should be interpreted.
"While reform to the industry is necessary and encouraging, it is time to reach conclusive, positive outcomes and then stabilise so that SMSF trustees can be confident in saving for their retirement," she said.
AUTHOR
Mike Taylor
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