After moving to Australia in the late 80s, long-time Institute member Michael Lorimer, CTA, built a successful career specialising in superannuation. He shares how he found his way into the superannuation sector, the value of advocacy, and why getting involved can be one of the most rewarding parts of your career.
How did you get started in tax?
It was sort of by default more than design. I came to Australia in 1989 from New Zealand and the first job I landed in Brisbane was with a superannuation company. That’s what ultimately drew me into the accounting profession. I wasn’t specifically looking for a superannuation or tax role at the time, I was young and needed a job, but once I got into it, I really loved it.
I’ve never practised in general tax. I’ve been fortunate enough to specialise in super. A few years into that journey, I discovered self-managed superannuation funds, which at the time were very much a cottage industry. Hardly anybody knew about them. They really fascinated me and I could see there was a lot of opportunity there, so I carved a niche in that space and have stayed there ever since.
With all of the advocacy work you've been doing throughout your career, what would you say has been your biggest success?
Back in the late 1990s, I was involved in achieving some pretty significant changes to controversial superannuation legislation. There were a lot of moving parts, but I was fortunate enough to be directly involved in improving what otherwise would have been a pretty poor outcome.
Then again in the early 2000s, we were able to ensure that a key superannuation tax measure that would have significantly changed the landscape was actually removed from a bill at the eleventh hour. Had that provision gone through, it would have impacted the way super funds have been taxed for the last two and a half decades.
Advocacy doesn’t always succeed completely, but I’ve seen firsthand that it can lead to meaningful improvements in legislative outcomes.
What advice would you give to people who are interested in getting involved with advocacy work?
Just do it. It’s been one of the most rewarding parts of my career. The people you meet, the experiences you gain, and the perspectives you’re exposed to are incredibly valuable.
It adds another dimension to your professional development. You really have to stretch your thinking and engage at a deeper level with the issues affecting the profession. Everyone is time poor, but volunteering is like the icing on the cake. It’s well worth the effort.
You mentioned that you've been a member of the Tax Institute for a while. How did you get involved? What was your introduction to The Tax Institute?
I did an accounting degree in the early to mid 1990s while working full time. I came across The Tax Institute through my university course and also through recommendations from colleagues who suggested it as a professional body to consider.
I joined in 1999, not long after finishing my degree. I started attending events, including national conventions, and met some amazing people. It was clear that Tthe Tax Institute operated at a very high level, and that was reflected in the calibre of its members.
At some point there was a call for nominations to join the superannuation technical committee, and I just put my hand up.
Would you say that The Tax Institute, as a result of your work on the technical committee and putting up your hand, has had an impact on your career?
Yes, absolutely. It’s been hugely positive. Being involved, especially at the committee level, adds another layer to your professional development.
It’s been a significant learning experience for me. Preparing for meetings and participating in discussions really pushes you to stretch your thinking. That aspect alone has been extremely rewarding.
You mentioned that you fell into tax. Did you ever consider another career path?
Not really. I realised fairly early on that this was the right place for me.
Before getting into tax, I was actually interested in pursuing something related to foreign languages, but once I started working in superannuation, I knew I was in the right field.
Do you speak other languages?
I’m reasonably comfortable in French and German. I studied both throughout high school and also spent a year as an exchange student in Germany after school.
Have you ever been able to break out your language skills in a professional sense? Has it ever come in handy?
Yes, actually. I once had a client with a self-managed super fund who purchased an investment property in Germany. I was responsible for reviewing the documentation, which was all in German, so that definitely came in handy in a professional context.
What do you do when you're not working in tax? What are you passionate about outside of your career?
I love travelling, it’s something I really look forward to. My next overseas trip is planned for mid 2027 and will include Italy and Greece, which are two of my favourite destinations.
I also enjoy spending time with my family and I’m a keen runner. I’ve completed a few marathons and still run regularly each week.
How big were these marathons?
They were full marathons on the Gold Coast. I’ve completed three of them. They’re large events with lots of participants and a great atmosphere, which really helps carry you through the race.
Ok, back to the topic of your tax career, as an expert in the field of superannuation, what direction do you think the profession needs to be going in the future?
I think broadly the superannuation sector is in good shape from a policy perspective. There are some areas in financial services more generally that need attention, but overall the trajectory is positive.
What’s most important is that we assess any future changes through the lens of the end consumer. The system ultimately exists to deliver outcomes for individuals, not regulators or governments. If we keep that focus, the profession will continue to evolve in the right direction.