Hi There

Big budget last night. But no super fiddling! What a miracle.

There are certainly changes to the investing landscape though. Is reverting cap gains calcs back to the old method OK? Will the changes to negative gearing really make a difference? And how about the changes to tax on trusts?

There's a lot to unpack, especially if you're a financial planner and/or have investments. Personally, I'm going to attend the FSC budget briefing tomorrow and let Dan Mulino explain it... And then pepper my long suffering accountant with a million questions!

Regards

Sarah

JOB OPPORTUNITY: Our friends at Dexus are looking for a Compliance Manager. All the details are here.

THOUGHT OF THE WEEK 

Matt, Jenny and I attended the FSC Technology and Wealth Summit last week. One idea I heard that really resonated is:

Mindset < > Skillset < > Toolset

Especially with regards to AI. I feel like we've done a decent job of throwing tools at everyone, but mindset and skillset are still catching up.

So if you or your team are struggling to get onboard the AI train, try breaking it down into mindset, skillset and toolset and it may well be clearer where you need to focus.

LATEST NEWS & VIEWS 

Federal Budget 2026–27: Superannuation Largely Left Alone — And That May Be the Real Story - Liam Shorte SP - Liam is my financial planner. He's also a smart bloke and this is a good summary.

Super performance test changes aim to prevent another Shield or First Guardian - IFA SP - could it though? I'm not convinced. And I'm not keen on the industry vs retail debate that seems to be hotting up again. Come on team, we are on the same side!

Treasury proposes sweeping YFYS changes to supercharge ’emerging asset classes’ - Investment Magazine SP - this is a more nuanced, sensible response. Worth a read.

Super funds reassess global real estate allocations amid recovery - Super Review

Super funds can drive member engagement through insurance: TAL - Financial Standard

‘Clickbait’ super ads reaching almost half of Australians: SMC - Professional Planner

Super funds rebound from March losses on ceasefire hopes - Super Review

Performance test reforms to curb benchmark hugging: Treasury - Financial Standard

Looking beyond super for certainty in an uncertain environment - Professional Planner

Family home rethink sharpens focus on super gaps - Super Review

FAAA opposes ban on advice fee deductions from super switching - Professional Planner

WORTH YOUR TIME

That Super Show 

In this episode of Neil and I dive into the latest superannuation reforms - switching delays, lead generation and those ever‑tricky compensation challenges. Should retirees really be forced to take a pension, or is there a smarter way? And why are Treasury’s newest consultation papers giving the super industry heart palpitations? Subscribe here.

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IS YOUR DDO FRAMEWORK EFFECTIVE OR JUST PRETTY?

Design and Distribution Obligations (DDO) have now been part of the regulatory scenery long enough to lose their “new” label. Most organisations have done the hard yards - TMDs are written, frameworks are documented and processes are officially “in place.” ASIC’s question now is far more pointed: can you actually prove that your framework works in real life, not just on paper? Read more here.

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