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Showing 111 - 120 of 313 results for "S Scheme"

ATO allows ERS access to New Zealanders

ELIZA BAVIN  |  WEDNESDAY, 20 MAY 2020
The Australian Taxation Office is allowing New Zealanders with KiwiSaver accounts to access the Early Release of Superannuation scheme through a loophole. In an update to its Design and Implementation document, the ATO said those with a KiwiSaver account ...

ASIC delivers thinly veiled warning

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
ASIC has warned consumers about advertising that compares fixed-term investment products to bank term deposits, the issue it is pursuing Mayfair 101 over. ASIC said a surge in marketing of fixed-term investment products in recent months had prompted ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
Deputy Treasurer Michael Sukkar confirmed the ATO has paused requests for early release being sent to super funds, as the AFP investigates identity theft. Speaking to Sky News this morning, Sukkar emphasised that the ATO has not been compromised and ...

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 ...