Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 501 - 510 of 668 results for "Penalty"

Super flagged to repair Australia's budget

DARREN SNYDER  |  WEDNESDAY, 30 MAR 2016
... particular, if you are under 30 you should be up in arms because the current situation is completely unfair. In addition to the penalty on future generations, as a player in the global economy, running a large deficit means we have no flexibility to ...

Industry funds happy SG charge retained

MARK SMITH  |  THURSDAY, 17 MAR 2016
... welcomed the retention of the full Superannuation Guarantee Charge following a debate in Parliament. The SG charge is a penalty paid by employers who fail to make their quarterly SG contributions on time. It was set to be diluted under the Treasury Legislation ...

UK to introduce lifetime ISAs

ALEX DUNNIN  |  THURSDAY, 17 MAR 2016
... government. Money in the account after the saver reaches age 60 can be used to boost their retirement savings with no penalty. The UK budget papers explain that the government will set the limit for property purchased using Lifetime ISA funds at £450,000 ...

ANZ pays $212,500 for responsible lending breach

ALEX BURKE  |  TUESDAY, 8 MAR 2016
ANZ has paid a $212,500 penalty for breaching responsible lending laws regarding overdraft facilities. The "ANZ Assured" overdraft facility can be applied to particular ANZ transaction accounts and has a limit of either $500 or $1,000. Offers to use ...

Senate to investigate white-collar crime

LAURA MILLAN  |  THURSDAY, 26 NOV 2015
... back. It sends a message," Medcraft has said in the past. Murray expressed it more graphically when he declared that "the penalty regime in ASIC is like being hit by a lettuce leaf." Australian policy makers are looking at the US system for reference ...

Super guarantee charge bundled by red tape repeals

DARREN SNYDER  |  FRIDAY, 13 NOV 2015
... legislation has been rolled over to parliament's final sitting weeks for the year. Under the proposed changes, the SG charge - a penalty paid by employers who fail to make their quarterly SG contributions on time - will be calculated on ordinary time ...

ASIC charges unlicensed SMSF loan provider

ALEX BURKE  |  THURSDAY, 12 NOV 2015
... contract." He has also been charged with one count of operating a financial services business without a licence, the maximum penalty for which is two years' imprisonment.

AIST opposes SG charge reductions

DARREN SNYDER  |  MONDAY, 21 SEP 2015
... reward employers who are good corporate citizens and penalise employers who are bad corporate citizens," Haynes said. "The penalty for not paying super on time should be substantially greater than the SG itself." Between 2010 and 2014 the ATO has raised ...

UK adds SMSF after slashing Australian pension schemes

ALEX BURKE  |  TUESDAY, 8 SEP 2015
... "compassionate grounds". As a result of being removed from the QROPS list, transfers into non-QROPS funds could incur a 55% penalty charge. As the HRMC announced in April, the goal of changes made to overseas pension legislation was to bring overseas ...

Regulation is not the only answer: Herbert Smith Freehills

LAURA MILLAN  |  WEDNESDAY, 12 AUG 2015
... against companies and those who work in them," Donald said, raising some key questions around governance: "Is financial penalty the right one to apply? Are we after deterrence, remediation or punishment? Or all three?" Referring to the recent regulatory ...