Media releases

2012

Superstream Advisory Council - Call for Nominees

The Government is calling for nominations from individuals interested in being appointed to the SuperStream Advisory Council.

Skilled visa reform targets investors and entrepreneurs

The Minister for Immigration and Citizenship, Chris Bowen MP, and the Minister for Financial Services and Superannuation, Bill Shorten MP, today announced new Federal Government reforms to attrac

Superfund Directors Under Greater Scrutiny Thanks to Government Bill

Minister for Financial Services and Superannuation Bill Shorten today welcomed the passage of legislation through the House of Representatives that improves requirements for the trustees of super

Government releases paper on tax relief for superfund mergers

The Minister for Financial Services and Superannuation, Bill Shorten, today released a proposals paper titled Taxation relief to support the implementation of Stronger Super which provides

Resourcing ASIC to continue strong market supervision

The Gillard Government will provide the Australian Securities and Investments Commission (ASIC) with new funding of $180.2 million over four years to ensure the corporate watchdog can continue t

2012-13 Budget – superannuation reforms

The 2012-13 Budget will build on the Government's previous reforms to improve the fairness, sustainability and efficiency of the superannuation system.

Government Releases Independent Report Into Compensation Arrangements For Retail Clients

Following on from the recent passage of the Future of Financial Advice (FOFA) reforms through the House of Representatives, the Government has today released a report into Compensation arrang

Superfund Executive Pay and Investments to be Disclosed

Australians will be better informed about their super thanks to Gillard Government legislation released for consultation today.

Tax relief for superfund mergers helps to lower fees

Superfund members will benefit from Government tax relief that enables superfunds to merge without triggering adverse tax consequences that would hit members' savings.  

Government seeks community views to make payday lending fairer for consumers

The Minister for Financial Services and Superannuation, Bill Shorten, and the Minister for Community Services, Julie Collins, today released a discussion paper on high cost, small amount loans,

Serious Questions for the Liberals about Superannuation

At a press conference in Geelong today Tony Abbott told reporters:

Australians to Benefit from Better Quality Financial Advice

Australians will soon have better access to affordable and quality financial advice following the passing of the Future of Financial Advice (FOFA) legislation through the House of Representative

Liberals Warming up for Back Flip on Superannuation

Reports today of a chaotic split in the upper ranks of the Liberal Party show Tony Abbott's team are warming up for a massive back flip which will leave millions of Australians worse off, Minister

A Step Closer to Clear Flood Insurance

Australians are closer to no-nonsense flood insurance following the passing of the Insurance Contracts Amendments 2012 (the Bill) in the Senate today.

Real Benefits for Real Australians from the Mining Tax

The passage of the Minerals Resource Rent Tax late yesterday brings real and big benefits to real Australian's retirement savings, Minister for Superannuation Bill Shorten said today.

Smoother Transition for Financial Advice Reforms

Australia's wealth management industry will benefit from more flexible commencement arrangements for the Future of Financial Advice (FOFA) reforms.

Government Releases Second Exposure Draft of Investment Manager Regime Legislation for Public Consultation

The Government has today released a second exposure draft of legislation implementing the first stage of the Investment Manager Regime (IMR).

Shorten calls for Safety during Floods

The Minister for Financial Services Bill Shorten has today called for people to make safety their first priority during this time of increased risk due to serious flooding in NSW.

New Super Measure to Make System Fairer and Simpler

A new Bill introduced into Parliament today by the Gillard Government, the Tax and Superannuation Laws Amendment (2012 Measures No.1) Bill, will make superannuation simpler and fairer.

Shorten Urges Consumers and Insurers to be Prepared in Face of Floods

Widespread rain across New South Wales, Victoria and the Australian Capital Territory has created safety risks and the potential for water damage to properties.