Policy and Advocacy update - July 2022
Next month, the new Government will have just ticked over their first 100 days. Early signs, including regular engagement in Canberra by the FSC, indicate the new Government is focused on implementing election commitments.
Strong industry alignment on Quality of Advice Review
The FSC has committed to a joint submission to the Quality of Advice Review between 11 advice associations that is aligned to the FSC’s policy positions.
Next steps for the Corporate Collective Investment Vehicle
An important reform to financial services, Corporate Collective Investment Vehicle (or CCIV) came into operation on 1 July this year. The CCIV will provide, for the first time, an Australian investment vehicle that combines the corporate legal framework of a company with flow-through tax treatment.
FSC liaison with Australian Taxation Office steps up
The FSC works closely with the Australian Taxation Office (ATO) on many issues of importance to members.
Key superannuation policy priorities of the new Government
Now that the Government has determined its key Ministerial appointments and gets underway with implementing its legislative agenda, it’s timely to briefly examine the three key areas of Government focus over the next year when it comes to superannuation.
Updated Guidance for Corporate Collective Investment Vehicles
ASIC released new and updated guidance for corporate collective investment vehicles (CCIVs) on 23 June. The requirements come into effect on 1 July 2022, when the CCIVs regime commences.