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Showing 21 - 30 of 219 results for "Advice fees"

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 ...

Advice reforms draft laws consultation opens

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
... a new streamlined consent process when a client enters or renews an ongoing fee arrangement and authorise ongoing advice fees to be deducted from a financial product. The bill proposes that advisers should make Financial Services Guides (FSG) easier ...

FAAA calls for 'fairness' ahead of Budget

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... financial adviser education and exam price relief, and to reverse the proposed changes to Reduce Input Tax Credits for advice fees. FAAA chief executive Sarah Abood said the goal is to ensure all consumers have access to high quality, professional and ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... diligence, testing and sampling. It's just good governance and good risk management, to make sure that having these advice fees taken out of [a member's] account, which is held in trust by the trustee, that it stacks up. "I've been saying ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... in assets. Between April 2022 and March 2023, it found that 476,452 member accounts were charged $990.4 million in advice fees by 1803 licensees. It also found that some trustees have advice fee caps as high as $20,000 or 5% of a member's balance and ...