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SMSF Updates

Defence amendment (miscellaneous measures) Bill now law

28 May, 2020

A Bill enabling former Australian Defence Force (ADF) members, who have provided at least 12 months of service, to continue to make contributions to their ADF Super accounts has become law. The Defence Legislation Amendment (Miscellaneous Measures) Bill 2020 received assent as Act No 45 of 2020 on 25 May 2020. It amends the Defence Home Ownership Assistance Scheme Act 2008 to extend the period after a member leaves the ADF within which he/she can access the Defence Home Ownership Assistance Scheme from two to five years. It also amends the Australian Defence Force Superannuation Act 2015, to enable former ADF members who have provided at least 12 months of service to continue to make contributions to their ADF Super accounts, and the Superannuation Industry (Supervision) Act 1993, to require ADF Super to obtain relevant insurance products for ADF Super members who are no longer serving in the ADF.

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