The Super Brief | February 2025

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Off the back of a significant enforcement action, ASIC has called on trustees to uplift scam and fraud prevention practices. Echoing this theme, the Assistant Treasurer has announced long-awaited development of mandatory service standards across core aspects of service delivery. The ATO has released a helpful tool for calculating the deductibility of fees for advice, and APRA has reissued two key superannuation reporting standards after finalising its data transformation project. An important decision from the Federal Court clarifies the importance of trustees pursuing merit review processes outlined in the SIS Act before seeking judicial relief. The Senate has scheduled the Better Tax Concessions bill for debate on Thursday 6th February – indicating a deal with the crossbench may finally have been reached      

Jack Allen
Lawyer