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Showing 231 - 240 of 2175 results for "Financial Year"

AMP profit dives as advice business sale bites

ANDREW MCKEAN  |  FRIDAY, 14 FEB 2025
AMP's statutory net profit after tax (NPAT) slumped to $150 million in the 2024 financial year, nearly half the previous year's result, which the firm attributed to simplification spend and the sale of its advice business. The prior year's ...

FSCP orders adviser to undertake further education

KARREN VERGARA  |  WEDNESDAY, 5 FEB 2025
... reprimanded for recommending a client make a superannuation non-concessional contribution of $329,000 in the 2023 financial year. The second adviser recommended a client make a tax-deductible contribution to superannuation to reduce the tax liability ...

CSLR review will scrutinise effect on businesses

KARREN VERGARA  |  MONDAY, 3 FEB 2025
... consumers," Jones said. Stakeholders wishing to make a submission to the review have until February 28. The 2026 financial year CSLR levy estimates have blown out to $77.9 million. The financial advice sector is set to pay $70.11 million - which has ...

Jones instigates CSLR review, levy hits $70m

KARREN VERGARA  |  FRIDAY, 31 JAN 2025
... financial advisers will have to fork out $70 million to fund the Compensation Scheme of Last Resort (CSLR) for the next financial year - breaching the $20 million cap - Treasury is now calling for a review of the controversial scheme. The CSLR today ...

Super fund promotional expenses balloon: APRA

KARREN VERGARA  |  FRIDAY, 31 JAN 2025
... continues to splurge on sponsorship deals. Hostplus splashed a staggering $13.7 million on sponsorships in the 2024 financial year - which made up 43% of what all super funds collectively spent ($31.7 million). Hostplus leaves other sponsorship budgets ...

Transfer balance cap to rise on July 1

JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2025
... will remain unchanged compared to 2024/25. This means that new opportunities may arise around NCC eligibility next financial year," MLC senior technical services manager Chris Chow said. Chow explained the increased TBC creates several advice opportunities ...

AFCA chief operating officer departs

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
... receiving just over 70,000 complaints a year and has seen that number grow to 105,000 complaints received last financial year. "Supported by Justin's operational oversight, we have been able to meet this growth in complaints head on, continuing to provide ...

K2 appoints chief executive, wins mandate

KARREN VERGARA  |  WEDNESDAY, 29 JAN 2025
... and advisory, and listed funds and ETFs. It had $4.4 billion in assets under management at the end of the 2024 financial year. Neal added that the long-term profitability of K2, including the return of dividends to shareholders, is the primary focus ...

$3m super tax will level playing field: Australia Institute

KARREN VERGARA  |  TUESDAY, 21 JAN 2025
... much-needed reform to Australia's superannuation system, even though it will only affect 80,000 people. "This financial year the richest 10% will receive just over $20 billion in superannuation taxation concessions. This at a time when around 23% ...

Australian Ethical grows FUM to $13.26bn

ROSE MARY PETRASS  |  MONDAY, 20 JAN 2025
... Managing director John McMurdo said Australian Ethical's commitment to its growth strategy led to 27% growth for the financial year to date. "A mark of the strength of our business model and resilience is that even in a period where we were not able ...