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Showing 201 - 210 of 358 results for "Levy"

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 ...

Advice licensees hit with $1500 levy

EMMA RAPAPORT  |  MONDAY, 17 JUL 2017
ASIC has introduced a $1500 fixed levy on authorised financial advice licensees to cover the price tag of its costs recovery framework. The graduated levy for licensees comes off the back of the ASIC Supervisory Cost Recovery Levy Bill, a law which ...

Broaden levy to foreign banks: Big four

KARREN VERGARA  |  MONDAY, 19 JUN 2017
Large foreign banks should also be subjected to the proposed $6.2 billion bank levy, Australia's four major banks told the Senate Standing Committee on Economics reviewing the levy Bill last week. Many multinational banks, while active in the institutional ...

ASIC enters new era as industry funding model passes

ALEX BURKE  |  FRIDAY, 16 JUN 2017
The ASIC Supervisory Cost Recovery Levy Bill 2017, which will enable the regulator to recoup costs from the industries it supervises, has been passed into law. Minister for Revenue and Financial Services Kelly O'Dwyer said the passing of the bill reflects ...

Banks narrowly avoid parliamentary inquiry

EMMA RAPAPORT  |  FRIDAY, 16 JUN 2017
... budget black hole," Bligh said. ANZ, CBA, NAB and Westpac have also taken to the ASX to criticise the Government's new bank levy, with some saying it will hit customers hardest. The Australian Bankers' Association, the big four and the Macquarie Group ...

Big four hammer bank levy

ALEX BURKE  |  TUESDAY, 23 MAY 2017
ANZ, CBA, NAB and Westpac have taken to the ASX to criticise the Government's new bank levy, with some saying it will hit customers hardest. Westpac chair Lindsay Maxsted said in an open letter that the new levy is "bad public policy that targets just ...