The Commonwealth Budget was the second for 2022, and thankfully, the second quiet budget for superannuation trustees.

Parliament is still to pass important bills concerning the Financial Accountability Regime, downsizer contribution scheme broadening, and an alternative performance test for faith-based products.

Information security remains an ever-increasing regulatory focus, while APRA continues to engage with trustees as part of its ongoing superannuation data transformation project. There was also an important court decision, which will make those involved in negotiating the terms of a successor fund transfer sleep a little easier.

Jonathan Steffanoni - Managing Partner
QMV Legal

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