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ARTICLE · 02 JUNE 2020

Superannuation monthly update – Regulator updates, Legislation, Cases and other recent developments

Holding Redlich
Holding Redlich
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Holding Redlich

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This monthly update includes Regulator updates (from ATO, ASIC and APRA), Legislation and Other recent developments.

AustraliaFinance and Banking
Luke Hooper
Luke Hooper
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Regulator updates

ATO Super CRT Alert 027/2020: Coronavirus early release of super – updated questions and answers (May 2020)

The ATO has updated its questions and answers in respect of the COVID-19 early release of superannuation regime.

A number of answers have been amended and following three questions have been added:

  • What if a member says they don't want the payment anymore?
  • What should I do before asking the ATO for the status of a determination?
  • Should a fund send information the subject of an AUSTRAC SMR to the ATO as well?

ASIC defers commencement of design and distribution obligations (8 May 2020)

ASIC announced it will defer the commencement date of the design and distribution obligations for six months from their original commencement dates, given the impact of COVID-19.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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