Sat, 6th Apr 2024

In this episode of Financial Services Online's Weekly Superannuation News Wrap, discussions include the Association of Superannuation Funds of Australia's (ASFA) concern over a proposal allowing Australians to use superannuation funds for home deposits, which could potentially increase housing prices and socio-economic divides. The federal government's intended adjustments to the Income Tax Assessment Act aim to simplify taxation difficulties in case of Successor Fund Transfers. The Australian Prudential Regulation Authority (APRA) scrutinizes whether superannuation funds fulfill fiduciary duties when investing in non-government affordable housing. The Australian Council of Trade Unions (ACTU) received a contribution of over $742,000 through an industry super fund partnership. Lastly, Aware Super aims at 'socially responsible investment,' targeting gender superannuation gaps and supporting essential workers.n