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Showing 391 - 400 of 2020 results for "Legislation"

SMSFs welcome RIC exemption

KARREN VERGARA  |  WEDNESDAY, 29 SEP 2021
The federal government sparing self-managed superannuation funds from the looming Retirement Income Covenant legislation has been welcomed by the sector. In response to the release of the Retirement Income Covenant exposure draft legislation, SMSF Association ...

Retirement Income Covenant closer to materialising

KARREN VERGARA  |  TUESDAY, 28 SEP 2021
The federal government unveiled the long-awaited Retirement Income Covenant exposure draft legislation and is taking industry feedback until October 15. The document sets out the obligations of superannuation trustees in designing a strategy for retirees ...

Adviser overwhelm explained

ELIZABETH MCARTHUR  |  TUESDAY, 21 SEP 2021
... yet. The single disciplinary body for financial advisers is set to come into effect by the start of 2022, however legislation is yet to pass, and advisers are still unclear on exactly how this change will impact the industry. "It's not long to go ...

ATO will not pursue erroneous JobKeeper payments

KARREN VERGARA  |  MONDAY, 13 SEP 2021
... government for businesses that struggled financially at the onset of the coronavirus pandemic. The Senate Economics Legislation Committee's Inquiry into the Coronavirus Economic Response Package Amendment (Ending JobKeeper Profiteering) Bill 2021 ...

APRA intensifies scrutiny of underperformers

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... Cole and executive director of superannuation Suzanne Smith, who also appeared at the inquiry, explained that the legislation mandated APRA to provide either a pass or fail. Smith said that the performance test calculations were provided to super funds ...

Legislation introduced to create Queensland mega fund

JAMIE WILLIAMSON  |  THURSDAY, 9 SEP 2021
... and QSuper's merger. On September 1, Queensland treasurer and minister for investment Cameron Dick introduced the legislation into parliament after it was delivered by both funds' boards. The bill aims to enable the merger while "protecting the existing ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... misleading or deceptive conduct by Colonial included telling its members that recent legislative changes [MySuper legislation passed in 2012 and effective in 2014] required Colonial to contact them and obtain an investment direction to stay in the FirstChoice ...

AustralianSuper skewers draft disclosure laws

JAMIE WILLIAMSON  |  MONDAY, 6 SEP 2021
The draft legislation on superannuation portfolio holdings disclosure is not in the best financial interests of members and only stands to serve rival fund managers to whom the reforms don't apply, according to AustralianSuper. In its submission to ...

NGS Super hikes fees

KANIKA SOOD  |  FRIDAY, 3 SEP 2021
... "Following much discussion and due diligence, coinciding with the introduction of the 'Your Future, Your Super' legislation that has changed the environment for all super funds, we don't believe the merger would be in our members' best ...

Family law super reform passes

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The government has passed legislation intended to prevent individuals from hiding superannuation assets in family law proceedings. Treasury Laws Amendment (2021 Measure No. 6) Bill 2021 (Schedule 5) allows the ATO to share information when an individual ...