A bill that contains changes to the governments superannuation tax reforms, including for limited recourse borrowing arrangements and transition to retirement income streams, has passed both houses of Parliament.
Treasury Laws Amendment (2017 Measures No. 2) Bill 2017 was approved by both the House of Representatives and the Senate on Thursday 15 June, and makes changes to parts of the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016.
Minister for revenue and financial services Kelly ODwyer said the bill will support the integrity of the new transfer balance cap by including a repayment of a borrowing under a limited recourse borrowing arrangement in the cap in certain circumstances.
Some of the changes outlined in the…
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