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Showing 191 - 200 of 353 results for "Levy"

Contract work threatens super: Research

KARREN VERGARA  |  THURSDAY, 15 FEB 2018
... pay, and superannuation monies," the report said. Contractors who are not accruing super should be subject to a compulsory levy once they earn more than $90,000 per annum to fund the aged pension unless the contractor contributes an amount equivalent ...

Traditional advice strategies pose retirement risk

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JAN 2018
... will now be able to claim a tax deduction. Those with income levels above $87,000 and in the 39% tax bracket (incl. Medicare levy), the tax benefit of the contribution is 24%, but the individual personally receives the 39% benefit," Philpot explained. ...

Government caves to banking Royal Commission

KARREN VERGARA  |  THURSDAY, 30 NOV 2017
... ratings across the major banks." The banks have clearly been a focus of the government and regulators this year, with the bank levy, the BEAR regime of senior executive oversight, the commissioned ACCC review of competition, the ASIC and AUSTRAC cases ...

Wealth, insurance arms hit banks' earnings

KARREN VERGARA  |  TUESDAY, 7 NOV 2017
... major banks earned a total of $31.5 billion in cash profit, up 6.4% on the prior year. The introduction of the major bank levy is expected to flow through in subsequent reporting periods. The number of full-time employees across the majors decreased ...

Banks will step out of wealth: Medcraft

DARREN SNYDER  |  TUESDAY, 31 OCT 2017
... people doing the audit inspections' and I said 'yeah, but we can't afford it' and they said 'we'll pay more for the industry levy so that you can perhaps take on retired partners to do the review' which in turn would lead to less time needed to complete ...

ASIC outlines industry funding costs

ALEX BURKE  |  MONDAY, 9 OCT 2017
... These costs vary across industry sectors. In the registered liquidator sector, for example, companies will have a minimum levy of $2500; this can be increased based on the number of ongoing external administration appointments at the beginning of the ...

Discretionary trusts crackdown short-sighted

KARREN VERGARA  |  FRIDAY, 4 AUG 2017
... how much tax they have to pay," he said. "We already have some shared tax arrangements in place, such as for the Medicare Levy Surcharge which is assessed on the combined income of couples. Furthermore, the Federal government has flagged its intent to ...

Warne flags executive reshuffle at Macquarie AGM

ALEX BURKE  |  THURSDAY, 27 JUL 2017
... positive about the group's 2018 outlook, he did note his surprise at Macquarie's inclusion in the Government's Major Bank Levy regime, given "the relatively small size of our Australian banking business." He explained: "The annualised cost of the new ...

Royal Commission unnecessary: FSC

KARREN VERGARA  |  WEDNESDAY, 26 JUL 2017
... compensation scheme would cost up to $300 million per year. There is a better way, Loane said, of not having another industry funded levy on top of regulatory costs already in place. One recommendation would be to strengthen the financial advice license ...

APRA sets new capital target for the big four

ALEX BURKE  |  WEDNESDAY, 19 JUL 2017
... reduce this figure to below 30%. It also follows pressure on banks' valuations post-Budget when the Government introduced a levy of 0.015% of an ADI's licensed entity liabilities as at each APRA mandated quarterly reporting date - a move the big four ...