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Showing 201 - 210 of 353 results for "Levy"

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 ...

A one-handed clap for ScoMo's Budget

BENJAMIN ONG  |  TUESDAY, 23 MAY 2017
... 0.4% of GDP by then. In addition to these, consumer spending will be further restrained by the 0.5% increase in the Medicare levy (if passed), among others. Slowing household spending - which accounts for roughly 60% of the economy - threatens the Budget ...

Senior executives sworn to secrecy over bank levy

JAMIE WILLIAMSON  |  THURSDAY, 18 MAY 2017
... from consulting with their boards, customers or shareholders prior to the implementation of legislation around the new bank levy. In what the Australian Bankers' Association has labelled an extraordinary move, the Federal Government yesterday forced ...

Treasury responds to ABA derision over bank levy

JAMIE WILLIAMSON  |  WEDNESDAY, 17 MAY 2017
Secretary to the Treasury has shot down claims from the Australian Bankers' Association that the proposed bank levy disregards Government best practice guidelines. In a submission to Treasury lodged on Monday, ABA chief executive Anna Bligh claimed ...

Two Victorian advisers cop bans

KARREN VERGARA  |  TUESDAY, 16 MAY 2017
... and providing inappropriate advice. ASIC's investigation found MySuperMan director David Heycock and employee Stuart Arnold-Levy provided unlicensed and poor advice, particularly in relation to residential property development. Heycock and Arnold-Levy ...

Banks hoping to stall new tax

JAMIE WILLIAMSON  |  TUESDAY, 16 MAY 2017
Two of the big four banks have called for the Government to hold off on implementing the proposed levy announced in last week's Federal Budget. In submissions to Treasury, both ANZ and Commonwealth Bank identify significant risks to Australia's economic ...