Assistant Treasurer’s superannuation agenda

In a recent speech, Assistant Treasurer Josh Frydenberg outlined the various issues on his agenda for superannuation.

He mentioned that the government will consult with all parties on various proposals from the Financial System Inquiry, including the prohibition of borrowing by superannuation funds. He also confirmed that superannuation tax concessions will be considered in detail as part of the Tax White Paper process. Other priorities mentioned were to increase professional standards of financial advisers and to identify ways to reduce the costs for consumers, including compliance costs due to excessive government regulation.