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Ban unsolicited life insurance sales: Poll

KARREN VERGARA  |  MONDAY, 29 JUL 2019
An overwhelming number of Financial Standard readers have backed corporate regulator ASIC's move to ban the unsolicited sales of life insurance. Ninety-four percent of participants, who voted in a spot poll conducted last week, said life insurance ...

Deeming rate calculations should be independent: Poll

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
The majority of Financial Standard 's readership agrees the calculation of deeming rates should be appointed to an external, independent body. After the Federal Government lowered deeming rates from July 1, we wanted to find out if the Minister ...

Aussie millionaires are cashed up: Report

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
A new report finds the majority of Australian millionaires are cautious investors and prefer to leave their wealth in cash rather than risk capital erosion. The 2019 State of Wealth Report, which is based on research conducted by Crestone Wealth Management ...

Open Banking gets another shot in parliament

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 JUL 2019
... that would give consumers access to and control of their own financial data. The bill was reintroduced to Parliament and read today. Treasurer Josh Frydenberg said the legislation is designed to give consumers more power and allow them to switch service ...

ATO clarifies SMSF death benefit income streams

KARREN VERGARA  |  MONDAY, 22 JUL 2019
... only satisfies the compulsory cashing requirements as long as the interest continues to be cashed in that form," the note read. Therefore, if the pension ceases because the minimum amount hasn't been paid, the trustees may have contravened the Superannuation ...

Super funds hard to engage with: Research

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUL 2019
... cannot rest on its laurels in supporting, educating and informing its members," added Choi. The survey found 39% of members read their annual statement, 28% visited their funds' website and 28% read regular communications. Responsible investing was highlighted ...

Chief economist update: A case for optimism

BENJAMIN ONG  |  THURSDAY, 11 JUL 2019
With a buoyant stock market, tax cuts, lower interest rates and a recovering housing market, one would think all Australians should have every reason to dance on the streets. Australians, all, should be dancing on the streets to Jimmy Cliff's classic ...

Chief economist update: Hard target

BENJAMIN ONG  |  WEDNESDAY, 10 JUL 2019
With business conditions and confidence like it is, the Reserve Bank of Australia (RBA)'s full employment target just got a little harder to meet. Recall that in his speech at the RBA board dinner with the business community on June 4 - the night ...

Chief economist update: BOE flips tightening bias to easing

BENJAMIN ONG  |  MONDAY, 8 JUL 2019
The strong US non-farm payrolls report - employment grew by 224,000 in June, beating expectations for a 160,000 gain and a sharp rebound from the 72,000 added in the previous month - failed to remove or even reduce the odds for a Fed rate cut this month. ...

PYSP queries inundate super funds

KARREN VERGARA, JAMIE WILLIAMSON  |  FRIDAY, 5 JUL 2019
Superannuation funds are struggling with a barrage of Protecting Your Superannuation Package queries from members, leaving many frustrated and waiting on the phone. AustralianSuper, Australian Ethical, Australia Post Superannuation Scheme, CareSuper ...