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Showing 1011 - 1020 of 5394 results for "Federal"

Bernie Madoff dies in prison

ELIZABETH MCARTHUR  |  THURSDAY, 15 APR 2021
... history has died in prison aged 82. Bernie Madoff had been serving his sentence at FMC Butner, an administrative security federal medical centre for male offenders located in North Carolina, at the time of his death. Madoff would not have been eligible ...

ASIC extends advice relief measure

KARREN VERGARA  |  THURSDAY, 15 APR 2021
... two other measures, which were introduced at the same time, will not be extended. Relief to facilitate advice about the federal government's early access to superannuation initiative has ended as the scheme was finalised on 31 December 2020. Advisers ...

Cairns women disadvantaged by super gender gap

KARREN VERGARA  |  MONDAY, 12 APR 2021
... women take time out of the workforce. The Australia Institute from the Centre for Social Research and Methods found the federal government's $60 billion tax concessions are geared towards men. Negative gearing, superannuation tax concessions, capital ...

NAB MySuper class action heads to Federal Court

JAMIE WILLIAMSON  |  MONDAY, 12 APR 2021
Maurice Blackburn's class action against MLC Nominees and NULIS Nominees has moved to the Federal Court, following a decision late last year. The class action brought by Maurice Blackburn against MLC Nominees and NULIS in January 2020 on behalf ...

Commonwealth seeks to stop bond class action

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
... is seeking to hold the Australian government to account over climate change risks, through a class action filed in the Federal Court last year. Yesterday, the court made orders setting out how the case will proceed. The court heard the Commonwealth wants ...

AustralianSuper subverts stapling logic

KARREN VERGARA  |  FRIDAY, 9 APR 2021
... fund members". Silk also argued for the inclusion of administration fees in the new benchmark tests. In the October 2020 federal budget, Treasurer Josh Frydenberg introduced a test for MySuper. Such products that underperform their benchmark by 0.5 percentage ...

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
ASIC is taking Westpac to the Federal Court, alleging it sold junk credit insurance to 384 customers that did not want it and whose accounts were unlawfully debited to pay for the premiums. The corporate regulator has exposed dodgy sales of add-on insurance ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
The Federal Court has imposed a $7 million penalty on Commonwealth Bank for charging higher interest rates on business overdraft accounts than what it advised its customers over a four-year period. Following an investigation by ASIC, CBA admitted to ...

Hostplus wins mandate

KANIKA SOOD  |  TUESDAY, 6 APR 2021
... AUSfund's roughly $1 billion in assets via external fund managers. Effective May 21, AUSfund will cease to exist, after the federal government's legislation made it mandatory for superannuation to transfer low-balance or dormant accounts to the ...

Tax concessions failing women: Research

ANNABELLE DICKSON  |  TUESDAY, 6 APR 2021
... commissioned by the Australia Institute from the Centre for Social Research and Methods revealed tax concessions cost the federal budget $60 billion per year with the majority benefiting men. The four tax concessions consist of negative gearing, superannuation ...