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SPAA applauds tax changes to excess contributions

JAMES FERNYHOUGH  |  WEDNESDAY, 14 MAY 2014
... the government to make this change, arguing that such contributions can attract taxes as of as much as 93% (i.e. twice the top rate). SPAA's Jordan George said: "We congratulate the Government on allowing taxpayers to refund excess non-concessional contributions ...

Budget speech 2014 -15

... for just three years, we are asking higher-income earners to pay a Temporary Budget Repair Levy that in effect increases the top marginal tax rate by two percentage points, for people earning more than $180,000 a year. It is only fair that everyone makes ...

Market wrap

AAP  |  TUESDAY, 13 MAY 2014
... "There's been a rebound in resource stocks after JP Morgan upgraded the sector." Rio Tinto, which was named as JP Morgan's top pick, had jumped $1.94 to $62.94. BHP Billiton had lifted 92 cents to $38.08 and Fortescue Metals had risen 13.5 cents to $4.855. ...

Market Wrap AM

AAP  |  FRIDAY, 9 MAY 2014
... the euro area next month, saying the "governing council is comfortable with acting next time". London's FTSE 100 index of top companies rallied 0.63 per cent to close at 6,839.25 points. Germany's DAX 30 jumped 0.90 per cent to finish at 9,607.40 points ...

Stakeholders stage FoFA confrontation in Senate submissions

LAURA MILLAN  |  WEDNESDAY, 7 MAY 2014
A new round of submissions to the Senate inquiry into the Future of Financial Advice (FoFA) amendments has seen consumers, academics and industry bodies holding increasingly opposing positions. Most stakeholders focused on the most controversial topics ...

Regulation tops Australian business risk survey

LAURA MILLAN  |  TUESDAY, 6 MAY 2014
... 2014. An Aon Australasian Risk Survey saw fears of regulatory and legislative change jump from third to first position in the top 10 list of risks to Australian and New Zealand businesses. "Legislative change adds cost pressure to a company's bottom ...

Saxo Capital Markets adds share options to platform

MARK SMITH  |  MONDAY, 5 MAY 2014
... provide direct access to the 200 most liquid stock options across the US, Europe and Asia Pacific. These will comprise the top 50 US stock options and ETF options; the top 100 European stock options; the top 20 Hong Kong stock options; and the top 30 ...

BT Financial Group posts 21% profit rise

MARK SMITH  |  MONDAY, 5 MAY 2014
... benchmark. BT Financial Group also said its platforms continue to hold number one ranking for market share at 19.7%. Asgard ranked top three in Investment Trends' survey and ranked number one for Best Fee Disclosure Statement and Best Platform Integration ...

Super on track for double-digit year

ALEX DUNNIN  |  MONDAY, 5 MAY 2014
... 3.9% respectively and cash returned 2.8%. Direct property and A-REITs have maintained their respective 9% and 4% results. The top five Workplace super funds (by default options) over the 12 months were REST with 15.6%, First State Super with 15.0%, CBUS ...

ANZ wealth division profits up 11%

MARK SMITH  |  THURSDAY, 1 MAY 2014
... six years ago, the compound annual growth rate in earnings from Asia has been 37% and ANZ is now being consistently rated a top 4 Corporate Bank in Asia by Greenwich Associates," he added. "In Australia we are seeing ongoing benefits emerge from the ...