The Institute: 

• Welcomed the government’s proposal to simplify the new superannuation regime.
 

• Supports the treatment of the self-employed in the same manner as those in traditional employment.
 

• Requests the government to address the inequity in regards to disability payments and the removal of restrictions on contributions made for non-working and self-employed Australians. The restrictions presently imposed mean that those who have never worked due to disability have no access to superannuation monies even if they are in their name.
 

• Recommends the government review the inequity in the pension system that arises with a married couple receiving only 80 per cent of the pension benefit compared to two singles that are interdependent. Under the age pension, those that are single receive $499.70 per fortnight where individuals in a couple receive $417.20 each. In this Chartered Accountants couples under the taxation system are assessed as individuals whilst under the pension system they are assessed as a couple.