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ASIC and Austplan agree to mutual breakup

DARREN SNYDER  |  FRIDAY, 26 OCT 2018
Austplan will lose its Australian financial services licence in November following ASIC surveillance which found deficiencies in the establishment of self-managed superannuation funds and client referrals. ASIC will cancel Austplan's AFSL effective ...

Chief economist update: Fear and loathing on Wall Street

BENJAMIN ONG  |  THURSDAY, 25 OCT 2018
... But what's concerning is that the Fed's actions are also beginning to impact on growth. Factset reports that US new home sales fell 5.5% to a 553,000 - the biggest decline since December 2016. On top of this August sales were revised down by ...

Downsizer scheme gains ground

JAMIE WILLIAMSON  |  WEDNESDAY, 24 OCT 2018
... the new measures which allow an individual to contribute up to $300,000 into superannuation from the proceeds of selling a home. Couples can contribute up to $600,000. There are a number of prerequisites for the strategy however, leading advisers to ...

Advice dealer group takes out governance award

JAMIE WILLIAMSON  |  TUESDAY, 23 OCT 2018
... dealer groups was recognised in the Governance, Risk and Compliance Institute's annual awards. Elders Financial Planning took home the Team of the Year Award at a function hosted in Sydney. Elders Financial Planning general manager Tony Beaven said the ...

Chief economist update: If you can't beat Trump, copy Trump

BENJAMIN ONG  |  TUESDAY, 23 OCT 2018
... spent by the patient above 15,000 yuan could be deducted, with an annual cap of 60,000 yuan. On interest for loan for first home by the taxpayers or their spouses, a monthly deduction of 1000 yuan will be allowed. For housing rent, the deduction will ...

Early release of super, FHSSS gaining traction: ATO

KARREN VERGARA  |  MONDAY, 22 OCT 2018
... independently confirm the amount authorised for release, Treasury said at the time. O'Halloran also said that the First Home Super Saver (FHSS) Scheme is successfully underway since it was introduced in the 2017-18 Budget. Over the same period, the ...

Chief economist update: China's slowing fast

BENJAMIN ONG  |  MONDAY, 22 OCT 2018
... reflect the country's economic fundamentals and "stable financial system." Liu He, China's vice premier, hammered home the message in an interview with the Xinhua News Agency. He urged officials to step up efforts to promote "healthy" stock-market ...

TAL slashes jobs, cuts outbound sales

JAMIE WILLIAMSON  |  FRIDAY, 19 OCT 2018
... compliant and viable. TAL scooped a number of awards at the Strategic Insight Direct Life Insurance Awards last night, taking home the Term Life Award; Funeral Cover Level Premiums Award for the Insuranceline Final Expenses Plan; the Innovation Award ...

NobleOak wins best direct life insurer award

KARREN VERGARA  |  FRIDAY, 19 OCT 2018
... Contemporary Art in Sydney on Thursday. In addition to scoring the Overall Direct Life Insurance Excellence Award, NobleOak took home three other gongs. It won the TPD Award for its Premium Life Direct - TPD Option Rider product; the Income Protection ...

ASIC moves on Dollarmites

HARRISON WORLEY  |  FRIDAY, 19 OCT 2018
... of Australian adults still have their first bank account and this brand attachment often means they take out credit cards, home loans or other products with the same bank." "46% of people got their first account with the Commonwealth Bank, a strong testament ...