Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1271 - 1280 of 6842 results for "Tax"

Magellan profits dip

KANIKA SOOD  |  TUESDAY, 17 AUG 2021
Magellan Financial Group reported a 33% drop in its net profit after tax to $265.2 million in FY21, as its performance fee revenue slid 63% and recent investments drew a loss of $41.8 million. MFG ended FY21 with $103.7 billion in average funds under ...

New equities LIC heads for the ASX

KANIKA SOOD  |  MONDAY, 16 AUG 2021
... premiums or discounts seen in closed-ended listed funds. Lanyon said it has formally committed to reinvesting 100% of the after-tax value of management and performance fees to purchase shares on the market, if its LIC trades at a discount. "This means ...

Fiducian's FUA inches to $4bn

KARREN VERGARA  |  MONDAY, 16 AUG 2021
... administration and advice reached $10.4 billion, up from $8 billion on the prior corresponding period. Statutory net profit after tax of $12.2 million rose 16% year on year. Fiducian Superannuation Service chair Drew Vaughn recently told a Standing Committee ...

Praemium FUA doubles, profit slips

ANNABELLE DICKSON  |  MONDAY, 16 AUG 2021
The platform recorded 105% growth in funds under administration in its full-year results while profit after tax dropped 68%. Praemium recorded $1.5 million in profit after tax down from $4.0 million in FY20. Overall, revenue increased 28% to $65.8 million ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... still a far cry from the company it was four years ago. In the six months to June, the group's underlying net profit after tax hit $181 million, buoyed by strong performances from AMP Bank and its stakes in Resolution Life and the China Pension Life ...

Multiple accounts already in sharp decline

ELIZABETH MCARTHUR  |  THURSDAY, 12 AUG 2021
... ATO," McCrea said. When inactive accounts fall below $6000, they are automatically transferred to the ATO. But, ASFA says the tax office could be doing more. It recommends the ATO reunite amounts it holds whenever it can identify another account in a ...

Profit boost for CBA, ups remediation bill

KARREN VERGARA  |  WEDNESDAY, 11 AUG 2021
... entered into an agreement to buy the bank's aligned advice business. The year to June 30 saw CBA's net profit after tax grow almost 20% to $8.7 billion, driven by business lending, home lending and household deposits. Remediation costs totalled ...

How wealthy families protect assets no matter what

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 AUG 2021
... passports, second residences, and assets in various structures and jurisdictions." Lesperance cautioned families to also consider tax ramifications and physical presence requirements to make sure that they are a resident of the correct region in the ...

Challenger chief executive to step down

KARREN VERGARA  |  TUESDAY, 10 AUG 2021
... financial year to 2021. Challenger turned around a massive loss of $419 million in FY20 to a $589 million in net profit after tax. The funds management business saw FUM rise by 30% to $106 billion. Fidante Partners, the distribution, administration and ...

Westpac sells life insurance unit

KARREN VERGARA  |  MONDAY, 9 AUG 2021
... life insurance business to TAL Dai-ichi Life Australia for about $900 million. Westpac is due to make a $1.3 billion post-tax loss from the sale. The cash consideration of $900 million includes ongoing payments to Westpac, calculated at 0.96 x the life ...