The trifecta of government super changes - Your Future, Your Super changes also passed

To complete the government’s super trifecta of Super Bills which have been accepted by the Senate, the Treasury Laws Amendment (Your Future, Your Super) Bill 2021 has been passed by the Senate – but with two significant changes.

The first change is that provisions to avoid employees having multiple super accounts arising from previous employer SG contributions – the stapled fund changes – will now commence from 1 November 2021 rather than the previously proposed 1 July 2021.  This means that the stapled fund changes will only apply to an individual if they commence new employment on or after 1 November 2021.

The application of the Your Future, Your Super changes to self managed superannuation funds will be considered in the next issue of SC News.

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