Thanks to all who attended our final few Super Intensive Day events in mid September – it was great to close those out on a high with some great feedback from our attendees.
It was also a great lesson for me in how much things can change in a short space of time. At the start of those events in late August, I was reasonably confident the Government would reintroduce its controversial Division 296 tax legislation and it would be passed fairly promptly. Certainly that was the Treasurer’s rhetoric. But by mid September things were looking far less certain and now, in early October – with another sitting month passed – it seems change may be in the air. I’m trying not to get too optimistic but I truly hope someone in Government is rethinking the whole thing. One possibility I’m worried about is that the Treasurer will come back with broadly the same Bill but with a simple concession like indexation. As I’ve highlighted in one of our articles this month (here), we shouldn’t settle for that. The fundamental flaws in this proposal can only be fixed with fundamental change. The Government needs the tax revenue and is entitled to take the philosophical view that it should come from winding back tax concessions for very large balances. But it should just find a better way to do it.
Right now, though, I’m finding it hard to get too bothered about Division 296 tax. I’ve taken a long break after all the activity of recent months and am enjoying a month in Italy. I have discovered a new love that is even better than superannuation – croissants filled with something made from pistachios (precise contents yet to be determined). Right now, my only project is to enjoy those and find the perfect Prosecco.
That said, I will be using some of my down time over here to work on a new course for our education platform. Watch this space.
If you missed out on our Super Intensive Day events this year, there's still time to purchase the session recordings. Earn up to 17.25 hours of high quality, accredited CPD. Purchase here.