Exposure Draft - Regulations - SMSFs - Consideration of Insurance, Separation of Assets and Valuation of Assets at Net Market Value
Treasury has released draft regulations which give effect to key aspects of the Stronger Super reforms. The exposure draft provides detail around amendments to the Superannuation Industry (Supervision) Regulations 1994 to require:
- trustees of SMSFs to consider insurance for their members as part of the fund’s investment strategy;
- money and other assets of an SMSF be kept separate from money and assets held by a trustee personally and by a standard employer-sponsor or an associate of a standard employer sponsor; and
- SMSFs to value the assets of the fund at net market value for reporting purposes.
Submissions for this consultation closed on Friday, 1 June 2011.
Seven submissions were received in response to this consultation. Six of these are public submissions and one is confidential. The public submissions are listed below.
|Institute of Chartered Accountants in Australia||356KB||2.65MB|
|SMSF Professionals' Association of Australia||317KB||6.93MB|
|The Association of Superannuation Funds of Australia||44KB||n/a|