28 Jul 11 Exposure Draft - 3 month extension of temporary loss relief for merging super entities
On 3 May 2011 the Assistant Treasurer and Minister for Financial Services and Superannuation announced that the Government would extend the temporary loss relief for superannuation funds that are currently in the process of merging, from 30 June 2011 to 30 September 2011. This extension is intended to give complex mergers in progress more time to complete and still be eligible for the loss relief.
Treasury has now released an exposure draft and explanatory material of the proposed legislation for public consultation. The closing date for submissions is Thursday, 11 August 2011.