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Showing 421 - 430 of 703 results for "Senator"

FSC urges Senate to vote for SG rise

CLAIRE MCGREAL  |  MONDAY, 19 MAR 2012
The Financial Services Council is urging Senators to pass legislation to increase the superannuation guarantee, tabled for today, saying Australians would benefit to the tune of $184bn as a result. New research carried out by Rice Warner Actuaries for ...

Xenophon targets super funds for greater transparency

MELANIE TIMBRELL  |  WEDNESDAY, 14 MAR 2012
... with better risk disclosure and information benchmarks will be the focus of new proposed legislation from independent Senator Nick Xenophon aimed at increased transparency in superannuation. The move was sparked by concern over the volume of the $1.3 ...

No time for FOFA impact statement: OBPR

MELANIE TIMBRELL  |  WEDNESDAY, 15 FEB 2012
... commissions on insurance products outside of super were named as the six elements without an OBPR-passed RIS. When opposition senator Matthias Cormann referenced Treasury evidence that the breach was due to time pressures, McNamara confirmed some drafts ...

Cutting super tax breaks unwise: SPAA

CLAIRE MCGREAL  |  TUESDAY, 7 FEB 2012
... lift overall levels of savings. Current rules do nothing to ease the growing gap between the rich and poor," said the Senator. "Tax breaks on superannuation cost the budget $30 billion a year, as Treasury's latest Tax Expenditure Statement [released ...

ASIC questioned over new powers

ELISE BURGESS  |  WEDNESDAY, 25 JAN 2012
... session where the regulator gave preliminary results to its planning shadow shop survey with "woeful" results for planners. Senator Mathias Cormann questioned the Australian Securities and Investments Commission (ASIC) commissioner Peter Kell about the ...

Annual fee collation too complex: FPA to PJC

MELANIE TIMBRELL  |  TUESDAY, 24 JAN 2012
... that information in and create some kind of consolidated report." The FPA concluded in agreement with a statement from Senator Mathias Cormann on the possibility of consumers paying an adviser to collate all fees in a single statement if they so wish ...

FOFA moderate and reasonable: ISN

CLAIRE MCGREAL  |  TUESDAY, 24 JAN 2012
... would fall from $2,130 to $1,188, "largely driven by the increase in uptake of scaleable advice". Meanwhile Opposition Senator Mathias Cormann quizzed Industry Super Network (ISN) representatives on whether they were "surprised" by the government's inclusion ...

PJC concedes FOFA amendment may be warranted

MELANIE TIMBRELL  |  TUESDAY, 24 JAN 2012
... can never be a member of the fund and that's why you have that discrepancy," Vamos said. Responding to questioning by Senator Matthias Cormann on whether member shared costs for intra-fund advice was appropriate, Vamos spoke of the importance for a solution ...

PJC hears FOFA lost in translation

MELANIE TIMBRELL  |  MONDAY, 23 JAN 2012
... double standards in the proposed legislation. Bradley Fox, national president of the AFA responded to questioning from Senator Stephens on competition in the advice industry, saying that all members of industry superannuation funds would have some portion ...

SG rise through House of Representatives

CLAIRE MCGREAL  |  WEDNESDAY, 23 NOV 2011
Leading superannuation bodies have welcomed the passage of the mining tax package through the lower House, which paves the way for the Superannuation Guarantee hike from 9 to 12 %. The 30 % tax on coal and iron ore profits, which successfully made it ...