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Super tax strategies a hot topic

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
... beneficial leading up to tax time." By April people can start to better understand their tax liability for the year and how close they are to reaching their concessional contributions cap, he said. "Claiming a tax deduction for personal super contributions ...

APRA grants ADI licence to Judo Bank

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
The Australian Prudential Regulation Authority has granted Judo Bank, formerly Judo Capital, a licence to operate as an authorised deposit-taking institution without restrictions in what is being welcomed as a win for banking competition and fintechs. ...

Watermark closes chapter on global equities

KARREN VERGARA  |  WEDNESDAY, 24 APR 2019
... several directors. Watermark's Global Leaders Fund (WGF) and Market Neutral Fund (WMK) were removed from the ASX at the close of trade yesterday. The funds had about $72.8 million and $69.5 million in assets respectively. A number of directors exited ...

Former super fund investment lead joins consultancy

ELIZABETH MCARTHUR  |  TUESDAY, 23 APR 2019
An independent investment consultancy has welcomed the former chief investment officer of Commonwealth Bank Group Super as it looks to expand its Australian operations. Gerard Parlevliet has joined bfinance in the newly-created role of senior strategic ...

CBA owes staff $15 million

ELIZABETH MCARTHUR  |  THURSDAY, 18 APR 2019
... the alleged planned job cuts, CBA's response was "lame", she said. "CBA has told us media reports that it intended to close 300 branches were 'incorrect' but would not deny plans to axe 10,000 to 12,000 staff, suggesting reports to that effect ...

ASIC targets misleading member communication

KARREN VERGARA  |  WEDNESDAY, 17 APR 2019
... formed Superannuation Consumers' Centre has slammed super funds that are misleading members and warned it will be paying close attention to how funds communicate to members about the changes and report those that fall short. According to Xavier O'Halloran ...

Industry welcomes tax cuts and surplus

KARREN VERGARA  |  TUESDAY, 16 APR 2019
Personal tax cuts and the $7.1 billion estimated surplus announced were the main highlights of this year's Budget, Financial Standard 's latest straw poll shows. More than a third or 35% of participants highly favoured the tax cut proposals ...

Aussie blockchain investor goes global

ELIZABETH MCARTHUR  |  TUESDAY, 16 APR 2019
Australian digital assets investment firm TCM Global Asset Management (formerly Token Capital Management) is making its first international foray. TCM is chaired by former ANZ managing director of global markets, Steve Bellotti, and its chief executive ...

APRA to up the ante

HARRISON WORLEY  |  TUESDAY, 16 APR 2019
... recommendations on legislative change. Namely, that APRA seeks the government's consideration of legislative amendments to close gaps in its superannuation enforcement powers and remedy the adequacy of penalties. The review also recommended that ...

Chinese investment in Australia down 36%

ELIZABETH MCARTHUR  |  MONDAY, 15 APR 2019
A new report from KPMG has revealed a 36.3% reduction in Chinese investments in Australia, from $13 billion in 2017 to $8.2 billion in 2018. The report was produced by KPMG and The University of Sydney Business School looking at a dataset covering investments ...