Minister for Revenue and Financial Services Kelly O’Dwyer says the government does not intend to implement further tax changes to superannuation in this year’s federal budget.
At an event hosted by PwC last week, Ms O’Dwyer confirmed that the government would not be implementing any more tax changes in relation to superannuation in the federal budget in May.
PwC director of private clients Liz Westover welcomed the announcement, saying it would be unpractical to implement any more changes in the system.
“I really feel that we can’t be having more tax changes into the future,” Ms Westover said.
“Ms O’Dwyer was quite emphatic that there would be no further changes in this year’s budget. So maybe we’ll all get a reasonable night in May this year, and we won’t be up to the wee hours of morning pouring through budget papers.”
A spokeswoman for the minister told SMSF Adviser that the government was still undertaking the process of reviewing submissions on the remaining budget measures yet to be passed by, including the reforms around actuarial certificates.
“The government, through submissions, understands the importance of actuarial certificates to the integrity of the system,” the spokeswoman said.
“The government is currently considering submissions made in response to the draft regulations. Outcomes of the consultation will be finalised in due course and ahead of the commencement of the superannuation measures.”
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