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Showing 501 - 510 of 2185 results for "Financial Year"

ATO keeping tabs on SMSF early access, tax avoidance

KARREN VERGARA  |  FRIDAY, 21 APR 2023
... their first ever annual return. "Over 21% or around 5,400 of the 26,000 new funds that registered during the 2021 financial year have not lodged. There are also 36% of new funds that registered during the 2022 year that have not met their end of February ...

Adviser complaints rise, super complaints decrease

KARREN VERGARA  |  WEDNESDAY, 19 APR 2023
... corporate insolvency statistics show that 145 financial services and insurance companies went bust in the 2022 financial year. Under capitalisation, poor business management, fraud, trading losses, inadequate cashflow or overspending, and poor financial ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... and fairness to all," he said. Locke added that the authority expects to register about 100,000 complaints this financial year, up from 70,000 complaints just a year ago. Since inception in November 2018, it has closed more than 320,000 complaints. In ...

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
... superannuation members will involve assessing the difference in total superannuation balance at the beginning and end of the financial year, adjusting for withdrawals and contributions. Importantly, negative earnings can be carried forward to offset ...

Iress error impacts ESSSuper members

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
... 9% of its defined benefit members. Due to Iress' incorrect contribution reporting to the ATO for the 2021-2022 financial year, approximately 9% of ESSSuper defined benefit members received Excess Contribution Notices containing an incorrect amount. After ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... to cover living expenses face an effective tax if their total super balance exceeds $3 million at the end of a financial year. The tax burden increases when the pension is added back to calculate total earnings for the year. "This is a tax on what's ...

Regulators prioritise emerging areas of risk

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
... which you hold, or unclaimed super which we hold at the ATO, and that's an increase of $2.1 billion since last financial year - that is a lot of money that is not hard at work for members." She said one in four Australians holds more than one super ...

HSBC bails out Silicon Valley Bank UK

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... 10 March 2023, SVB UK had loans of around £5.5 billion and deposits of around £6.7 billion, said HSBC. For the financial year ending 31 December 2022, SVB UK recorded a profit before tax of £88 million, while its tangible equity is expected to be ...

TAL offloads dealer group to CountPlus

KARREN VERGARA  |  FRIDAY, 10 MAR 2023
... indemnities appropriate for a business of this nature and size. Affinia generated net revenues of $3.03 million in the financial year ending 31 March 2022. Marcus O'Sullivan, the head of Affinia, will support the transition, while chair Steve Helmich ...

AET divestment drives Insignia profit gain

JAMIE WILLIAMSON  |  THURSDAY, 23 FEB 2023
... franked at 50% and payable on April 3. As for the company's outlook, Mota said: "We have begun the second half of the financial year with strong progress and positive momentum across the business through disciplined execution of our strategic initiatives." ...