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Showing 91 - 100 of 290 results for "S Scheme"

Trustee behaviour in a COVID-19 world

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
SMSF trustee behaviour will be under scrutiny from the Australian Taxation Office and they're set to face some tough penalties if they assist in the illegal early release of super. Under the government's ERS scheme, a number of key issues face SMSF ...

How early release impacts the ASX

ALLY SELBY  |  THURSDAY, 7 MAY 2020
... early release scheme, questions surrounding super fund ownership in equity markets have come to the fore. The government's scheme will so far put at least a $9 billion strain on Australia's super sector, as members, coming to terms with lost wages and ...

AFP investigates ERS scams

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
The Australian Federal Police are investigating a small number of scams in relation to the government's Early Release of Super scheme. The Australian Taxation Office said measures designed to protect the integrity of the early access to super scheme ...

FPA launches new ROA solution template

ELIZA BAVIN  |  WEDNESDAY, 6 MAY 2020
The Financial Planning Association of Australia has launched a digital version of the Record of Advice (ROA) solution 'template' to support members who have been inundated with requests for advice, following the strong demand for early super access. ...

Early release of super numbers revealed

ELIZABETH MCARTHUR  |  MONDAY, 4 MAY 2020
Australians have withdrawn $1.3 billion of superannuation in just the first week of new early release rules to help those suffering financial hardship as a result of COVID-19. Funds have paid a total of 162,879 early release applications so far out ...

Super funds release $1.3bn

ELIZA BAVIN  |  MONDAY, 4 MAY 2020
APRA has released the first Early Release Super (ERS) figures, showing $1.3 billion has been paid to members in the first week of the scheme. Under APRA's Early Release Initiative (ERI) data collection, superannuation trustees were asked to submit data ...

Billions withdrawn from super

ELIZA BAVIN  |  FRIDAY, 24 APR 2020
Treasurer Josh Frydenberg has confirmed $3.8 billion in withdrawals from super was approved by the ATO over the course of three days. Frydenberg said the average withdrawal was $8000 and the super funds will now begin to release the money. "Those applications ...

Funds receive first ERS applications

ELIZA BAVIN  |  THURSDAY, 23 APR 2020
The ATO has confirmed the first batch of ERS applications have been sent to superannuation funds. The ATO said the implementation of the early release of super scheme for those financially effected by the COVID-19 crisis is progressing well. "We are ...

APRA to track ERS payment times

ELIZA BAVIN  |  WEDNESDAY, 22 APR 2020
APRA is set to name and shame the superannuation funds that straggle in releasing member's money to them as part of the early release scheme. APRA has launched new data collection to assess the progress and impact of the government's temporary early ...

APRA questioned on fund liquidity

ELIZA BAVIN  |  WEDNESDAY, 22 APR 2020
The prudential regulator has been questioned over super fund liquidity concerns by the Senate Economics Committee. Senator Andrew Bragg issued a letter to APRA putting the regulator on notice to answer a number of questions related to super funds. "I ...