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No 'Plan B' for Brexit "twist and turns"

BENJAMIN ONG  |  FRIDAY, 12 MAY 2017
... the growth outlook. The British central bank even upgraded its GDP growth outlook to 1.7% (from 1.6% predicted in February) next year and to 1.8% (from 1.7%) in 2019 - the years when the UK and the EU are in the midst of negotiations. As noted in the ...

AZ NGA edges on $5bn with next acquisition

ALEX BURKE  |  THURSDAY, 11 MAY 2017
AZ Next Generation Advisory's acquisition of a Cairns-based financial advice practice brings the firm's total assets under management to about $5 billion. The binding purchase agreement with Menico Tuck Parrish Financial Services (MTPFS), established ...

Government bond issuance to fall 20pct

ALEX DUNNIN  |  WEDNESDAY, 10 MAY 2017
... improving Budget position should enable the Australian Office of Financial Management (AOFM) to reduce its annual borrowings next financial year by about 20%. According to a statement released by the AOFM today, with two months left to run in the 2016-17 ...

New data feeds will save advisers time: ANZ

EMMA RAPAPORT  |  WEDNESDAY, 10 MAY 2017
... of life insurance, Gerard Kerr, says these enhancements will save advisers time when preparing quotes for OneCare. "This next step will mean advisers can easily transfer details of existing OneCare clients and policy information into XPLAN, removing ...

What the 2017 Budget means for you

DARREN SNYDER  |  TUESDAY, 9 MAY 2017
... government's infrastructure spending regime, which includes $75 billion in infrastructure funding and financing over the next 10 years. As revealed prior to Budget night, the government will spend $17 million over four years to establish an Infrastructure ...

Budget for the wealthy: Labor

KARREN VERGARA  |  TUESDAY, 9 MAY 2017
... students will need to pay an additional 7.5% (or 1.82% annually) over four years from 2018 in course fees, and as of July next year will repay their HELP debt upon earning $42,000, dropping from the $55,000 threshold. Shorten commented that 'better days ...

Government puts stopper on Future Fund drawdowns

ALEX BURKE  |  TUESDAY, 9 MAY 2017
... Australian Government investment funds." Future Fund management expenses are expected to rise from $73 million to $78 million next year, followed by $81 million in 2019-20 and $84 million in 2020-2021. According to Rainmaker research, the Future Fund ...

Government fintech agenda spotlights microbanking

ALEX BURKE  |  TUESDAY, 9 MAY 2017
... create a technology solution to what the Government has prescribed," Wilson said. "A whole lot of nuance will come out in the next few weeks and months as businesses think about how to provide what the Government has asked for, since there are lots of ...

Major banks receive Budget shakeup

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2017
... models in banking that enhance competition," Treasurer Scott Morrison said. The ACCC will also receive $13.2 million over the next four years to complete regular inquiries into specific financial system competition issues - a recommendation of the House ...

Increased APRA levies provide regulator with more power

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2017
... by the Federal Government. The Australian Prudential Regulation Authority (APRA) has been allocated $28.6 million over the next four years to initiate new regulatory activities aimed at supporting "a stable, efficient and competitive financial system." ...