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Treasury Laws Amendment (Innovative Superannuation Income Streams) Regulations 2017

21 March 2017 | Exposure Draft

The Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP, has released draft superannuation income stream regulations and a draft explanatory statement for public consultation.

The regulations continue the implementation of the Government’s superannuation reforms and introduce a new set of design rules for lifetime superannuation income stream products that will enable retirees to better manage consumption and longevity risk in retirement. The regulations are intended to cover a range of innovative income stream products including deferred products, investment-linked pensions and annuities and group self-annuitised products.

Superannuation funds and life insurance companies will receive a tax exemption on income from assets supporting these new income stream products provided they are currently payable or, in the case of deferred products, held for an individual that has reached retirement.

All interested parties are invited to make a submission by 12 April 2017.

Making a Submission

Interested parties are invited to comment on the exposure draft regulations and explanatory statement.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Wednesday, 12 April 2017

Address written submissions to:

Manager
Retirement Benefits Unit
Retirement Income Policy Division
The Treasury
Langton Crescent
PARKES ACT 2600

For enquiries please call Heather Sturgiss +61 (2) 6263 3205.

Key Documents

Make a Submission

  • Alternatively submit via post. Please include the attached submission cover sheet. 60KB
Ref Num: {00C14AB7-EFF9-4991-A9B1-E52223B0AF66}
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