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Calls for a simplified path to financial advice

ANDREW MCKEAN  |  WEDNESDAY, 15 MAY 2024
... system isn't supporting that need. Last month, JAWG proposed some core principles to strengthen the education standard for new entrants to the financial advice profession. At the Stockbrokers and Investment Advisors (SIAA) conference, Abood said the ...

The rising role and risks of generative AI

ANDREW MCKEAN  |  WEDNESDAY, 15 MAY 2024
... it's crucial to understand the segments, counterparties, and stakeholders involved, he said. Ensure clarity when introducing new AI tools in your terms and conditions to avoid relationship issues and unexpected surprises. Also, when announcing new AI ...

Iress breach extends to OneVue business

JAMIE WILLIAMSON  |  WEDNESDAY, 15 MAY 2024
Iress has confirmed the breach it was victim to over the weekend was worse than first thought, having spread to the recently offloaded OneVue business. On Monday, Iress told shareholders its private user space on code repository GitHub had been breached. ...

Members' attitude, behaviour key to better engagement

JAMIE WILLIAMSON  |  WEDNESDAY, 15 MAY 2024
New research suggests superannuation funds need to focus more on attitudinal and behavioural insights if they're to improve engagement. The latest CSBA FEAL Superannuation Experience & Engagement Benchmark expanded its coverage to survey super fund ...

Budget 2024: Stage 3 tax cuts to take effect July 1

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... from $120,000 to $135,000. Treasurer Jim Chalmers said the average benefit would be around $1888 a year, or $36 a week. "Our new tax cuts for middle Australia are the biggest part of the cost of living relief in this Budget. From July 1, all 13.6 million ...

Budget 2024: Cost of living relief takes centre stage

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... better deal for every working parent. A fairer go at every checkout," Chalmers said when presenting the Budget to parliament. "New help with energy bills for every household and for small business. Stronger Medicare in every community. More homes in ...

Budget 2024: Additional $11.3bn promised for housing

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
The Albanese government has made significant new housing investments in the Budget to help deliver a comprehensive Homes for Australia plan. "We're easing the cost of living - and we're building more homes for Australians. In the five years from this ...

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... upgrade the ATO's technologies to identify and block suspicious activity in real time, while $83.5 million will go towards a new compliance taskforce to recover lost revenue and intervene when attempts to obtain fraudulent refunds are made. A further ...

Budget 2024: Government heeds industry calls to better support women

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... pay a price for being there," he said. The measure is expected to benefit 180,000 families annually. While available to all new parents, the payment of super on PPL will overwhelmingly benefit women, who currently account for about 95% of those accessing ...

Budget 2024: Chalmers looks to reset aged care, NDIS

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... regulatory capabilities. A further $1.2 billion will be invested in critical digital systems to support the introduction of the new Aged Care Act and associated IT services. Meantime, the My Aged Care Contact Centre will receive $37 million to reduce ...