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Showing 211 - 220 of 371 results for "Levy"

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 ...

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 ...

Editor's Choice

Former Income AM director launches fixed income advisory

MATTHEW WAI
A former Income Asset Management executive director has launched Ancora Fixed Income Advisory for high-net-worth clients targeting the defensive asset class.

TAL names super fund partnership lead

MATTHEW WAI
TAL has named a new partnership leader who will focus on its collaboration with a super fund, replacing Mel Jose, who left in August to join Netwealth after a two-year stint.

Capital Group expands into Middle East

ELIZA BAVIN
Capital Group said the Middle East is a strategically important region for the business and its clients.

UniSuper says Firmus float was 'priced to perfection'

RIDDHIMA TALWANI
UniSuper chief investment officer John Pearce said the $175 billion super fund decided to not take part in the Firmus float, describing the neo-cloud company as "priced to perfection", before the initial public offering (IPO) was abandoned today.

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