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Superannuation and tax considerations


The taxation of superannuation is a topic that is constantly growing in importance, especially given the size of the superannuation pie and the notional annual cost of the tax concessions that it consumes.

This article considers some of the key tax issues currently affecting superannuation funds, including the stronger super changes related to MySuper and the Cooper Review, an increasing focus on net (after fees and taxes) return in the interests of members, and recent Australian Taxation Office rulings and proposed legislation affecting the taxation of superannuation. The author argues that the increased governance, transparency and measurement inherent in the Stronger Super reforms will mean that the superannuation industry will develop better ways to create superior after-tax returns for members as part of a conscious strategy formulated by fund trustees. This will be beneficial for members and should also create a good deal of activity for the tax profession.

Author profile

Jeremy Cooper
Photo of author, Jeremy Cooper Jeremy is the Chairman of Retirement Income at Challenger Limited, a full-time executive role involving aspects of research, product development and public advocacy of Challenger's philosophies in a range of areas. Jeremy is a lawyer by training with experience across a broad range of financial services disciplines. Prior to joining Challenger, Jeremy was appointed by the Australian Government to chair a wide-ranging review of Australia's superannuation system, now known as the "Cooper Review". Before his review role, Jeremy was deputy chairman of ASIC for five years from mid-2004. He was awarded the 2011 Libby Slater Award by the International Pension & Employee Benefits Lawyers Association in Berlin for his contribution to the Australian superannuation system. - Current at 19 September 2016
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