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Showing 1 - 10 of 6169 results for "Tax"

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 ...

Chalmers expected to deliver Budget surplus

ELIZA BAVIN  |  FRIDAY, 15 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 ...

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 ...

FAAA calls on ATO to provide clarity over advice fees

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
... (FAAA) has called on the Australian Taxation Office (ATO) to build upon the progress it made in its public release of revised tax deductibility guidance in December 2023. The FAAA said the ATO should further refine its position where advisers are providing ...

Low-margin clients hurt practice valuations

KARREN VERGARA  |  THURSDAY, 14 MAR 2024
... of 23% on average. Advice firms with a culture score of five out of five achieved on average earnings before interest and tax (EBIT) of 24.2%. Those that scored three or less reported a profit margin of 19.6%. Elixir Consulting's Sue Viskovic said firms ...

AMP upgrades North investment platform

ANDREW MCKEAN  |  THURSDAY, 14 MAR 2024
AMP's North wrap platform has introduced a feature that enables financial advisers to select investments by entering a client's target portfolio weightings. The investment switch functionality is designed to better align with how advisers construct ...

Government promises transparent financial services regulation

KARREN VERGARA  |  WEDNESDAY, 13 MAR 2024
The federal government is launching an initiative to provide transparency and better coordination in how it regulates financial services firms to alleviate their compliance costs and burdens. The Financial Sector Initiatives Regulatory Grid wants to ...

Centuria raises $50m for new fund

KARREN VERGARA  |  WEDNESDAY, 13 MAR 2024
... opportunities," Huljich said. The fund manager recently launched the Centuria NZ Value-Add Fund No. 2, targeting 13% per annum in pre-tax returns. The fund is set to acquire 43 College Hill located in Auckland to refurbish and convert it to a premium ...
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