Super is Murray's big rockBY ANDREW BRAGG | FRIDAY, 27 NOV 2015 12:01PMProperly calibrating the superannuation system is the most important policy change from the Murray review of the financial system. Super could be sharper, leaner and easier to ... Upgrade your subscription to access this article
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SHARON DAVIS
NON-EXECUTIVE DIRECTOR
FUTURE GROUP AUSTRALIA HOLDINGS PTY LTD
NON-EXECUTIVE DIRECTOR
FUTURE GROUP AUSTRALIA HOLDINGS PTY LTD
Sharon Davis has always been fascinated by the human condition; it has driven her passion for people, her career, and building a better future for the next generation and beyond. Eliza Bavin writes.
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Superannuation purpose is not about budget positions. It has a defined "Sole Purpose Test" which does not encapsulate budget imperatives.
The problem with the sole purpose test is the ill-defined, discretionary "Ancillary Purpose" provision.
This is what needs nailing down, not some new idea, codification or, otherwise, regulatory imposition to state what is already defined.
Tie up the ancillary purpose loophole and we are there.