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Showing 11 - 20 of 4981 results for "Federal"

SMC says 'reckless' plan could cost taxpayers $1tn

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... $1 trillion. SMC said even a policy which capped super withdrawals at $50,000 could still create a $300 billion cost to federal coffers across coming decades. The modelling - commissioned by the SMC - found pension costs could climb exponentially as ...

Advisers must unite for major reforms: SIAA

KARREN VERGARA  |  THURSDAY, 9 MAY 2024
... round of changes aims to streamline some process documents such as the ongoing fee renewal and consent requirements. The federal government hopes that by simplifying some of the paperwork it will incidentally lower the cost of providing advice to make ...

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
... negotiating its cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool 523, has already incurred $16,716,882.72 in project costs (including $11,343,317.94 ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence ...

Count upgrades synergy benefits after Diverger acquisition

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... $29.9 billion. Count paid $1.3651 for each Diverger share following a 99.97% approval from shareholders in January. The Federal Court approved the deal on February 15. Meantime, former Diverger managing director Nathan Jacobsen is set to start a new ...

Super for housing 'economically reckless': SMC

ANDREW MCKEAN  |  WEDNESDAY, 1 MAY 2024
... said it was disappointed to see the superannuation system being treated as a "political football" in the lead-up to the Federal election, slamming its portrayal as a "silver bullet solution" to a complex housing crisis. "After having this proposal soundly ...

Fund managers nervously await 'golden visa' reforms

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
... current SIV in that it may require a $5 million investment and that complying investments yet to be determined by the federal government may include a stipulated percentage of investment into venture capital, the law firm told clients. "The current allocation ...

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
... calculated, according to the SMSF Association (SMSFA). The SMSFA is calling for an amnesty for legacy pensions in the upcoming federal budget as current draft regulations proposing to increase the 15% tax to 30% on super balances above $3 million (Division ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
The Federal Court has ordered Macquarie Bank to pay a penalty of $10 million for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties, such as financial advisers, on customer cash management ...

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay. Justice Thawley sought to gather more information for the victims in delaying ...