EPISODE · Sep 6, 2024
Sat, 7th Sep 2024
from Superannuation News Wrap · host Paige Estritori
This week's Superannuation News Wrap discusses governance issues within Australia's superannuation sector with APRA's scrutiny on United Super and BUSS (Queensland) over alleged corruption and biker gang affiliations. The podcast also addresses AMP Limited's response to superannuation performance tests, raising concerns over their methodology and yielding calls for revised methods. Heightened examination on super funds expenditures also continues due to parliamentary pressure over financial connections with trade unions. A proposed draft ruling by the Australian Taxation Office might compel superannuation payments for entertainment and domestic service subcontractors, potentially leading to increased business costs. The podcast ends with the observation that the top five superannuation funds in Australia have increased their market control from 40% in 2020 to 47% in 2024 due to recent sector mergers and exits, while smaller funds have seen their share decrease.
What this episode covers
This week's Superannuation News Wrap discusses governance issues within Australia's superannuation sector with APRA's scrutiny on United Super and BUSS (Queensland) over alleged corruption and biker gang affiliations. The podcast also addresses AMP Limited's response to superannuation performance tests, raising concerns over their methodology and yielding calls for revised methods. Heightened examination on super funds expenditures also continues due to parliamentary pressure over financial connections with trade unions. A proposed draft ruling by the Australian Taxation Office might compel superannuation payments for entertainment and domestic service subcontractors, potentially leading to increased business costs. The podcast ends with the observation that the top five superannuation funds in Australia have increased their market control from 40% in 2020 to 47% in 2024 due to recent sector mergers and exits, while smaller funds have seen their share decrease.
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Sat, 7th Sep 2024
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