Media releases

2020

Government passes legislation through the senate to allow Australians to choose their superannuation fund

Legislation giving Australians the power to choose their own superannuation fund, instead of being forced into a fund because of enterprise bargaining agreements, today passed the Senate.

Super guarantee amnesty deadline approaches

This week the ATO will begin sending notices to Australian employers reminding them of the upcoming deadline for the super guarantee amnesty.

The Consumer Data Right arrives

Australians will be able to unleash the power of their own data to compare and switch banking products as the Morrison Government officially launches the Consumer Data Right today.

Delivering greater superannuation flexibility in the new financial year

Today, the Morrison Government has confirmed it will deliver on an election promise to improve the flexibility of the superannuation system for older Australians, ensuring that more Australians can

FASEA Extension Bill passes parliament

The Morrison Government has today passed legislation through the Parliament to provide additional time for existing financial advisers to meet the qualification and examination requirements set by

Regulatory sandbox to boost Fintech innovation and competition in the financial system

The Morrison Government is making it easier for fintech businesses to trial new products by today finalising regulations that will establish an enhanced regulatory sandbox.

ACCC launches Consumer Data Right platform

The Australian Competition and Consumer Commission (ACCC) is today launching the Consumer Data Right Register and Accreditation Application Platform (RAAP) to allow banks and fintech businesses to

Deferral of retirement income framework legislation

Today the Morrison Government has announced plans to defer the introduction of the Retirement Income Covenant, previously scheduled to commence on 1 July 2020.

APRA publishes first data on early release super scheme

The Morrison Government welcomes the first release of data by the Australian Prudential Regulation Authority (APRA) relating to savings released to Australians, under the expanded provisions for ea

APRA issues rules for early release of super for Australians

The Morrison Government welcomes the release of new guidelines by the Australian Prudential Regulation Authority (APRA) for the early release of superannuation for Australians financially impacted

Improving consumer access to financial advice during COVID-19

Senator the Hon Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology, welcomes the temporary relief measures announced today by ASIC to assist financial adv

Draft laws released to make retirement savings more flexible

The Morrison Government is acting on its election promise to give Australians greater flexibility to contribute to superannuation as they approach retirement.

Laws passed to reunite Australians with their unpaid super

Today, the Parliament passed legislation to reunite Australians with superannuation they are owed but have not been paid.

Morrison Government delivers laws to strengthen and protect Australian consumers and businesses

The Morrison Government continues to implement its economic plan with the passage of six separate pieces of legislation through the Parliament to support bushfire affected communities and to bett

New laws passed to drive fintech innovation and competition in the financial sector

Australian consumers and the booming fintech ecosystem will benefit from laws passed by the Parliament last night to create a fintech regulatory sandbox.

2019

Doing more to reunite Australians with their lost and forgotten super

The Morrison Government will build on its record of protecting and reuniting Australians with their lost and forgotten super with legislation to facilitate the exit of eligible rollover funds (ERFs

Appointment – Director – Financial Adviser Standards and Ethics Authority

The Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator the Hon Jane Hume, today announced that she has appointed Mr Will Hamilton as a part-time Director to

Consumer advocacy body for superannuation expression of interest

The Morrison Government is continuing to put the interests of superannuation consumers first by today taking the first step towards establishing a consumer advocacy body for superannuation.

Taking action on the Banking, Superannuation and Financial Services Royal Commission - Recommendation 2.4: Grandfathered commissions

Consumers will benefit from lower fees following the removal of conflicted remuneration for financial advice after the Coalition Government passed new laws through the Parliament yesterday, ending