The Government is consulting on draft regulations outlining proposed changes to the disclosure requirements for superannuation Annual Members' Meeting notices.
The draft regulations contain proposed changes to:
- streamline the disclosure requirements by preventing the double-counting of political donation expenditure;
- align the definition of ‘related party’ with that used in the Australian Accounting Standards; and
- remove the requirement for itemised disclosure for certain categories of expenses.
Providing members with simple and clear information will empower them to effectively engage with trustees during the meeting and improve member outcomes.