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  • Loss relief and asset rollover for transfer of amounts to a MySuper product

    The Government has amended the Income Tax Assessment Act 1997 to facilitate the MySuper reforms by providing income tax relief to complying superannuation funds where there is a mandatory transfer of default members’ account balances to a MySuper product in another super fund.

    Where the super fund invests in a life insurance company or a pooled superannuation trust (PST) to support its default members, the same relief is also provided to those entities.

    The Government has extended the current tax relief for merging superannuation funds, which was due to lapse on 1 July 2017, until 1 July 2020.

    Legislation and supporting material

    The Treasury Laws Amendment (2017 Measures No. 4) Act 2017External Link received Royal Assent on 23 August 2017.

    More information

      Last modified: 31 Oct 2017QC 36463