Parliament has been quiet in the lead up to the May Commonwealth Budget, but it was still a busy month of policy and regulatory change. Significantly, the Government announced their intention to require employer superannuation contributions to be made at the same time as the wages they relate to are paid.

ASIC was busy and released an updated RG 78 for Reportable Situations, provided clarification and an extension to the IDR Reporting obligations for certain entities and released a disclosure and transparency inventory for superannuation trustees.

APRA also released the Choice Heatmap, while a significant review and consultation of the of the AML/CTF legislation was also announced. 

Jessica Pomeroy - Senior Regulatory Consultant
QMV Legal

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