Published on 11 Aug 21
by THE TAX INSTITUTE
The Tax Institute welcomes the opportunity to make a submission in response to the Government’s Retirement Income Covenant position paper.
This submission has been developed in close consultation with The Tax Institute’s Superannuation Committee to provide comments on key issues which should be considered as part of the Government’s introduction of a retirement income (RI) covenant in the Superannuation Industry (Supervision) Act 1993 which is intended to outline a fundamental obligation of trustees to formulate, review regularly and give effect to a RI strategy. Our view is that the proposed RI covenant should not apply to trustees of self-managed superannuation funds.
Please refer to our submission for further details.
The Tax Institute is Australia's leading professional association and educator in tax, with offices in most major cities. Focusing solely on tax, the Institute provides the best resources, education and networks. Our mission is to equip tax professionals with everything they need to demonstrate the highest level of expertise and increase the advancement of public knowledge and understanding.
We are also committed to propelling members into the future and onto the global stage with the introduction of the Chartered Tax Adviser designation.