treasury

While finding that more research is needed to determine if the “definitions, metrics and formulas” used to calculate levies remain fit‑for‑purpose, Treasury was able to determine that advisers should no longer benefit from discounted levies.

The federal government is seeking feedback on proposed changes to rules aimed at preventing non-arm’s-length transactions by superannuation funds, in a bid to address concern that SMSFs and smaller funds that breach the provisions could be disproportionately penalised.

The review will consider “the consequences of time lags between regulatory action and cost allocation”, the terms of reference states.