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Showing 1 - 10 of 58 results for "Bill for"

Senate Committee endorses Superannuation Objective Bill

ANDREW MCKEAN  |  WEDNESDAY, 3 APR 2024
... experience higher tax obligations to fund the Age Pension. The Australian Council of Trade Unions (ACTU) praised the Bill for enshrining "fundamental principles" of superannuation, ensuring it benefits workers. However, some feedback questioned the Bill's ...

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
... at retirement, and the next generation - our children and grandchildren - will have to pay higher taxes to pick up the bill for higher pension costs." According to Roy Morgan, member satisfaction with superannuation funds has continued to increase, surpassing ...

Senate Committee rethinks franking credit changes

ANDREW MCKEAN  |  TUESDAY, 6 JUN 2023
... investors will have fewer franked dividends and corporate income tax collections will be lower." Bragg lambasted the bill for "destroying" the ability of companies to pay franked dividends following a capital raising activity. "There is no case to abolish ...

Consultation opens on crypto regulation bill

ANDREW MCKEAN  |  MONDAY, 19 SEP 2022
Liberal senator Andrew Bragg has released a draft bill for consultation that introduces licences for digital asset exchanges, custody services, stablecoin issuers, and instigates disclosure requirements for Chinese state-owned banks that facilitate ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
... financial advisers could increase substantially. An ongoing criticism of the levy has been that all advisers are footing the bill for the institutions' misconduct, paying for ASIC's ongoing actions against them. The levy is currently set at the 2018-19 ...

CSLR establishment is critical: FPA

CHLOE WALKER  |  FRIDAY, 12 AUG 2022
... would not have covered managed investment schemes," Abood said. "This would leave financial planners to foot most of the bill for a scheme that would have left the majority of affected consumers unprotected." At present there is $3.7 million in unpaid ...

Review of ASIC funding model begins

ANDREW MCKEAN  |  TUESDAY, 9 AUG 2022
... resulted in increased cost pressures within certain sub-sectors, including financial advisers being lumped with footing the bill for the misconduct of a select few institutions. The newly released scope of review outlines that consideration and where ...

US Senate passes $1tn Inflation Reduction Act

ANDREW MCKEAN  |  MONDAY, 8 AUG 2022
... to building innovative industries, domestic supply chains and advanced manufacturing capabilities. He also praised the bill for helping lower energy costs, reducing climate related risks that threaten the economy and for creating millions of quality ...

Magellan to move to higher tax rate

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
... at 21.4% in the year ending June, lower than the 30% tax rate that applies to companies and lightening its total tax bill for FY21 by about $44 million. This is because MFG is currently recognised as an Offshore Banking Unit, which allows its assessable ...

Shipton's tax bill under scrutiny

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 NOV 2020
... each been for Shipton to receive personal tax advice. Each procurement had a value of $25,000, bringing the total tax bill for Shipton to $75,000. Hehir acknowledged issues of governance over the procurement of tax advice within ASIC. It was not clear ...
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