In May 2021, the Federal Budget for the 2021-2022 financial year was handed down which included a number of proposed legislative reforms which will affect the Australian funds management and superannuation industries. Most notably, the Budget Papers included a commitment to the implementation of the Corporate Collective Investment Vehicle regime and also flagged changes to the licensing and relief regime for foreign financial service providers. The downsizer scheme, First Home Super Saver Scheme and threshold guarantee, are among the areas of superannuation which are expected to be subject to modifications in the coming year. ASIC has also released a consultation paper requesting feedback on proposed updates to the ePayments Code.
