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Showing 11 - 20 of 213 results for "Advice fees"

Industry groups hammer out guidance on tax-deductible advice fees

ANDREW MCKEAN  |  MONDAY, 26 MAY 2025
... Association Australia (FAAA), in consultation with leading accounting bodies, has released new guidance on tax-deductible advice fees. The guidance follows the release of the ATO Tax Determination in September last year, which the FAAA had lobbied for ...

HUB24 sees record quarterly inflows of $4.9bn

ELIZA BAVIN  |  TUESDAY, 15 APR 2025
... said that during the quarter its advice fee consent capability was updated to allow the option to include or exclude advice fees on a range of investments, which it said provides advisers with greater flexibility in tailoring fee arrangements. HUB24 ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
... trustees "must have a member's written request or consent, or a copy of the request or consent, before they charge advice fees (non-ongoing fees) under an arrangement that is not an ongoing fee arrangement (non-ongoing fee arrangement) to a member's ...

Retail super funds spend big on advice

KARREN VERGARA  |  FRIDAY, 1 NOV 2024
... member-initiated usage of advice services offered by the RSE licensee and charged to the member under agreed or activity-based advice fees. Industry funds spent the most on intra-fund advice with ART leading the pack at $17.7 million. HESTA ($12.4m) ...

Pride Advice acquires two Adelaide-based firms

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
... environment where advisers have become especially scarce. This follows the ATO's recent confirmation that financial advice fees for tax-related guidance are now deductible. "The cost of financial advice has increased since the Financial Services ...

ATO revises advice fee tax deductibility rules

JAMIE WILLIAMSON  |  THURSDAY, 26 SEP 2024
The Australian Taxation Office (ATO) has confirmed financial advice fees for tax-related guidance are deductible where the advice is provided by a Qualified Tax Relevant Provider (QTRP). Releasing a final guidance yesterday, the ATO said: "Fees for ...

First advice reform bill passes parliament

KARREN VERGARA  |  FRIDAY, 5 JUL 2024
... trustees in how their existing obligations - particularly under the sole purpose test - apply to the deduction of advice fees from a members' interest in the fund. "Consistent with meeting their obligations under the current 99FA, trustees should ...

AustralianSuper unleashes raft of investment and fee changes

ELIZA BAVIN  |  TUESDAY, 2 JUL 2024
... Credits (RITCs) section of the PDS across the Income and Choice products. The section that has been removed said: "For advice fees, other than for over-the-phone retirement planning advice mentioned above, the fund claims Reduced Input Tax Credits (RITCs) ...

Super account advice fees a sticking point for advice bill: Senate inquiry

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
... Delivering Better Financial Outcomes (DBFO) reforms emphasised in its final report it wants "greater legal clarity" to how advice fees are deducted from superannuation fund accounts. The Senate Economics Legislation Committee, led by chair senator Jess ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
... fees," SMC said. It also said the government should swiftly enact the legislation to mandate super funds check that advice fees charged from members' accounts are legitimate. The calls follow a recent warning from ASIC to groups employing such high pressure ...