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Showing 21 - 30 of 91 results for "Loophole"

FASEA extension en route

HARRISON WORLEY  |  FRIDAY, 22 MAY 2020
... Hume made the inexplicable last-minute decision to de-list a Treasury amendment bill to avoid a vote on removing this loophole," Jones said. "The bill in question contained a vital fix for the government's embarrassing failure to manage the FASEA ...

ATO allows ERS access to New Zealanders

ELIZA BAVIN  |  WEDNESDAY, 20 MAY 2020
... Office is allowing New Zealanders with KiwiSaver accounts to access the Early Release of Superannuation scheme through a loophole. In an update to its Design and Implementation document, the ATO said those with a KiwiSaver account are able to access ...

Stamping fees consultation kicks off

KANIKA SOOD  |  TUESDAY, 28 JAN 2020
... continue collecting commissions on stock exchange-listed investment products - an exemption that is frequently termed as a "loophole". In the intervening six years, ASX-listed investment products have swelled their assets rapidly. Exchange traded products ...

Salary sacrifice loophole bill insufficient: ISA

KRISTI CHENG  |  MONDAY, 19 AUG 2019
While closing the salary sacrifice loophole is important, the bigger issue that needs to be addressed is that of unpaid super, according to Industry Super Australia. That was the main point in the body's submission to Schedule 7 of the Treasury Laws ...

Government to close super salary sacrifice loophole

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
... 1) Bill 2019 in Parliament on July 24. One of the proposals aims to protect superannuation balances by closing a legal loophole that stops employers using salary sacrificed contributions to reduce their superannuation guarantee obligations. To avoid ...

APRA tighten reins on super fund acquisitions

KARREN VERGARA  |  TUESDAY, 25 JUN 2019
... of RSEs via the "back door" without meeting a stringent approval process. "These concerns were heightened after this loophole contributed to the fraud that precipitated the collapse of Trio Capital in 2009. The closure of this legislative gap will ensure ...

Industry responds to election outcome

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
The financial services industry has welcomed the surprise Coalition victory, viewing the result as business as usual. In a shock result to many, the Coalition defeated Bill Shorten's Labor Party in the Federal election over the weekend. In response ...

Lax regulation worsens lost super benefits: ISA

KARREN VERGARA  |  FRIDAY, 3 MAY 2019
Industry Super Australia is calling on major political parties ahead of the upcoming election to fix the Superannuation Guarantee loopholes costing workers $5.94 billion in super entitlements. A new report compiled by ISA citing 2016-17 financial year ...

Frydenberg takes action on banning grandfathered commissions

HARRISON WORLEY  |  THURSDAY, 28 MAR 2019
Consultation is now open for the Federal Government's response to Commissioner Kenneth Hayne's recommendation that grandfathered conflicted remuneration should be eliminated. The new regulation proposes financial product manufacturers to pass on to ...

Financial Standard unwrapped: Our top stories in 2018

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... Financial Standard stories to have in your back pocket for summer discussions around the barbeque. Shuttering dividend cash loophole to hit SMSFs In March the ALP proposed to eliminate cash refunds from excess dividend imputation credits, and throughout ...