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Government to commit $3.7bn to strengthen aged care access

MATTHEW WAI | TUESDAY, 12 MAY 2026

... year for aged care residents and protect equity of access for them. Specifically, the Budget will allocate $606.5 million over four years from FY27 to introduce new capital subsidies for aged care providers who build or expand residential accommodation ...

Chalmers chooses 'hard road of reform' in Budget

ELIZA BAVIN | TUESDAY, 12 MAY 2026

... has unveiled the Federal Budget, delivering a deficit for 2026/27 of $31.5 billion, as the government prioritises reform over relief. The 2025/26 deficit came in at $28.3 billion, a far cry from the $36.8 billion that had been projected. "The [government] ...

Chalmers overhauls negative gearing, CGT discount

KARREN VERGARA | TUESDAY, 12 MAY 2026

... tech and start-up sector." He calculates the changes to support some 75,000 additional first home buyers into the market over the next decade. "Combined with additional housing supply measures, this Budget will support up to 30,000 new homes over the ...

TelstraSuper-Aware Super merger complete

ELIZA BAVIN | TUESDAY, 12 MAY 2026

... Aware Super via a Successor Fund Transfer (SFT) to create a superannuation fund with approximately 1.3 million members and over $235 billion in funds under management. The two funds first announced plans to explore a merger in July last year, signed ...

ASX Advisory Group gives update on corporate governance revision

MATTHEW WAI | TUESDAY, 12 MAY 2026

... July 2026. The AGCG was assembled in November 2025 following concerns around the governance and operational aspects of ASX over recent years, it is currently chaired by former Reserve Bank of Australia governor Philip Lowe. The group also welcomed seven ...

Rest faces scrutiny over alleged super reporting error

VINNY VUCAGO | TUESDAY, 12 MAY 2026

Rest has come under scrutiny following claims it incorrectly reported superannuation contributions to the Australian Taxation Office for an individual who was never a member of the fund. The issue was raised publicly by financial planner Matt Marsh ...

ASFA expands technical implementation service

MATTHEW WAI | TUESDAY, 12 MAY 2026

... is clear: more support is needed through the regulatory change lifecycle, and that is why we're investing more in AIP over the coming year." She also said working groups bring together a "non-competitive" community of practitioners to co-design and ...

Calls for CGT, negative gearing reforms 'unanimous': Mulino

VINNY VUCAGO | TUESDAY, 12 MAY 2026

... Budget' - came about after "unanimous calls" for reform during the Economic Roundtable in August last year. "We have over $45 billion in initiatives. But not just that, we passed the EPBC Act, we froze the National Construction Code, but there are ...

Brighter Super, QIC Ventures invest in ProcurePro

KARREN VERGARA | TUESDAY, 12 MAY 2026

Brighter Super and QIC Ventures have backed ProcurePro, a digital procurement platform, boosting the startup's value to more than $100 million. The two parties helped raised $15 million via a Series B round in the hope of scaling the platform which ...

GQG reports nearly US$10 outflows, keeps FUM stable

KARREN VERGARA | TUESDAY, 12 MAY 2026

... margins, compared with our forecast decline," he said. However, GQG's earnings outlook "remains weak" and "relative performance over the short and medium term is poor". He also pointed to the rate of net outflows accelerating considerably in recent months. ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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