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Labor completes super agenda with passage of four bills

JAMES FERNYHOUGH  |  TUESDAY, 25 JUN 2013
... more transparent, efficient and fairer by stripping away unfair and hidden fees, allowing those approaching retirement to top up their super when the markets are strong and they need it most, and capping tax concessions on super for wealthier Australians ...

Market Wrap

AAP  |  FRIDAY, 21 JUN 2013
... players in our market to probably exit in anticipation of further weakness in our dollar," he said. "They're mainly in the top 100 stocks. The banking sector, the resource sector: they're the main two sectors that they focus on and we've seen that weakness ...

Excess super contributions amendments pass House of Reps

JAMES FERNYHOUGH  |  FRIDAY, 21 JUN 2013
... without penalty. The government said current law - which taxed concessional contributions in excess of the annual cap at the top rate of 46.5% - is "a severe penalty for individuals below the top marginal tax rate." Assuming it passes the Senate next ...

Australian millionaire numbers surge on strong economy

MARK SMITH  |  THURSDAY, 20 JUN 2013
... The value of Australia's high net worth market ranks ninth in the global stakes with the US, Japan and Germany taking the top three spots. The investible wealth of the world's total HNWIs rebounded in 2012, to reach a record high of US$46.2 trillion ...

Market Wrap

AAP  |  THURSDAY, 20 JUN 2013
... - all very supportive," Mr Lucas said. "Today will be a very interesting positioning day. The markets will enjoy punishing top-heavy stocks as the carry trade unwinds, profits are locked in... It will be a very tough day to be a bottom-up investor." ...

Challenger stages lifetime annuities comeback

MARK SMITH  |  WEDNESDAY, 19 JUN 2013
... financial year. According to figures from Plan For Life, the industry has not seen demand of that size since 2004, when the top six companies achieved sales of $280 million. This figure was achieved mainly because it marked the last year that Assets ...

Government to table concessional contributions bill

LAURA MILLAN  |  WEDNESDAY, 19 JUN 2013
... Financial Services and Superannuation minister Bill Shorten said. "They will be taxed at their marginal tax rate rather than the top marginal tax rate," Shorten said. At the moment, concessional contributions that are in excess of the annual cap are ...

Market Wrap

AAP  |  TUESDAY, 18 JUN 2013
The Australian market looks set to open higher following gains on Wall Street ahead of the widely-anticipated US Federal Reserve's policy meeting that's expected to give an indication on the central bank's plans on its stimulus measures. At 0805 AEST ...

CBA launches MySuper compliant product

ALICE URIBE  |  MONDAY, 17 JUN 2013
... at existing CBA customers and that the fees were competitive with industry funds. "We've designed it to be inline with the top ten industry super funds and the fee structure is very simple which is five dollars per month and 0.8% per annum," Chun said. ...

Tyndall mulls World Equities retail launch

MARK SMITH  |  MONDAY, 17 JUN 2013
Tyndall AM is considering making its top-performing World Equities multi-manager fund available to Australian retail investors after a successful retail launch in New Zealand. Tyndall head of the Multi-Manager Ken Ostergaard said that a regulatory overhaul ...