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Proposed super tax requires perspective: Expert

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
... Another issue SMSFs must bear in mind is that Division 296 targets future gains from 30 June 2025. "The gains we're making now are never captured by Div 296 as long as we get valuations right at 30 June 2025," she said. Division 296, she emphasised ...

Super contribution caps to rise on July 1

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
... 2021, so really we're playing catch-up. With that said, the 2021 increase was the first in four years. The fact we'll now see an increase after three years reflects the strong wage growth we've seen so far this decade."

Reforms will strengthen retirement advice: Experts

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... happens when APRA-regulated funds finally offer inexpensive or even free advice at a broader scale compared to what is on offer now. Heffron predicts that APRA funds will end up doing a good job of educating members about the benefits of saving and super ...

Global X ETFs appoints new chief executive from Goldman Sachs

ANDREW MCKEAN  |  WEDNESDAY, 21 FEB 2024
... "strategic repositioning" to jumpstart momentum, refocusing on core competencies with a clear emphasis on its client base. But now is the right time to bring in new leadership, he said. "Ryan has a notable track record of driving growth across the ETF ...

Link, The Trust Bank progress acquisition

KARREN VERGARA  |  TUESDAY, 20 FEB 2024
... which was up 14% on the prior period. Link Group managing director Vivek Bhatia said: "Our business simplification strategy is now complete with the sales of our banking and credit management (BCM) business and fund solutions (FS) UK and Ireland business ...

Family offices choose private credit: Survey

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... towards private credit this year, according to new research by KKR. The global fund manager's annual Family office survey, now in its seventh year, found that private credit is the preferred asset class for 45% of chief investment officers. "We learned ...

Mergers a boon for super member growth

KARREN VERGARA  |  MONDAY, 19 FEB 2024
... Super rose 23% and 95% respectively. "Whilst neither AustralianSuper nor Hostplus completed a merger during the year, Hostplus now joins Aussie as a top five fund megalith based on its scale combining both total membership and assets," Perple founding ...

UK, Japan slip into technical recession

KARREN VERGARA  |  FRIDAY, 16 FEB 2024
... Japan has been a pioneer in developing new policy tools that have since been implemented around the world," the IMF said. "We now think this period is coming to an end. The output gap closed in mid-2023, meaning that demand is now aligned with the economy's ...

Count to finalise Diverger deal

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
Count's acquisition of Diverger was approved by the Federal Court yesterday, with the deal now expected to be completed on March 1. Last month, Diverger shareholders overwhelmingly voted in favour of the takeover, with the court approval marking the ...

MDA authorisations remain steady amid exodus

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
... three years, despite the total number of advisers falling much more. According to analysis by Rainmaker Information, there is now 1998 advisers who can provide product specific advice for MDAs. Over one year, the number has dropped by 0.6% and over three ...