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Showing 1 - 10 of 6176 results for "Tax"

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... legal basis on which superannuation trustees can charge members for financial advice from their account and the associated tax consequences (Recommendation 7). The new laws will also house Recommendations 13.1, 13.2, and 13.3 of the QAR that wants clarification ...

Raiding super can worsen housing affordability: Research

KARREN VERGARA  |  MONDAY, 25 MAR 2024
Allowing Australians to draw from their superannuation to purchase a home will not solve the affordable housing crisis and would potentially lead to higher property prices, a new analysis from the Association of Superannuation Funds of Australia (ASFA) ...

New SMSF solution for Islamic Australians launched

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... the SMSF," Islam said. "Rent from the property would be taxed at a flat 15% rather than higher personal income or company tax rates and when the property is eventually sold for a greatly increased price it will be tax free as it will be free of capital ...

AvSuper prepares members for merger, fee changes

KARREN VERGARA  |  FRIDAY, 22 MAR 2024
... differ," AvSuper wrote to these members. As an example, the AvSuper Growth option aims to achieve a return after fees and tax above CPI over rolling 10-year periods by 3.5% p.a. These members will be aligned to ART's Balanced option, which aims to ...

Chalmers expected to deliver Budget surplus

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... Development of Australia, Chalmers said many of the big Budget announcements have already been made, including the stage three tax cuts and superannuation on paid parental leave. In addition, the government has also planned big spending for aged care ...

UK advisers told to review retirement advice processes

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... to do with their money. Since then, those aged over 55 could spend their pension how they please, including withdrawing 25% tax-free. Previously, retirees were forced to buy annuities to see them through their later years. Following the review, the FCA ...

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... 2025/26. Stakeholders have been encouraged to submit responses to the draft regulations before 26 April 2024. The bill imposes a tax rate of 15% for super earnings corresponding to the percentage of an individual's super balance that exceeds $3 million ...

Interest rate cut may not come until 2025, experts warn

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... loosen monetary policy settings until September. "The Reserve Bank Board will want to consider the impact of a third round of tax cuts that will take effect in July. While the cuts won't derail inflation's retreat, they will delay it," Cruise ...

ATO refers SMSF auditors to ASIC

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2024
Fifteen self-managed super fund (SMSF) auditors have been reprimanded for performing in-house audits. The Australian Taxation Office (ATO) referred 15 SMSF auditors to ASIC following a review of files from audit firms. ASIC said it had concerns that ...

AFCA secures $40m in refunds

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
The Australian Financial Complaints Authority (AFCA) said it helped secure more than $40 million in refunds for hundreds of thousands of consumers between July and December 2023. AFCAs Systemic Issues Insights Report revealed the 139,011 consumers received ...
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