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Showing 541 - 550 of 666 results for "Penalty"

British govt to introduce pension choice

ALEX DUNNIN  |  FRIDAY, 21 MAR 2014
... of retirement product they use, with the withdrawal amounts being subject to marginal taxation rates not high onerous penalty rates. The British government is also proposing to offer a free financial advisory service at least insofar as these income ...

"Free set up" SMSF administrator pays infringement notice over bogus claims

ALICE URIBE  |  TUESDAY, 18 MAR 2014
... superannuation fund (SMSF) administration company SuperHelp Australia (SuperHelp) has paid a $10,200 infringement notice penalty after making potentially misleading statements about the cost of setting up an SMSF. ASIC's concerns related to an advertisement ...

Parliament passes more nuanced SMSF penalties

JAMES FERNYHOUGH  |  THURSDAY, 13 MAR 2014
... contravened the law of making the SMSF a non-complying fund, disqualifying the trustee, applying to court for a civil penalty or requiring the trustee to enter an enforceable undertaking. "This has been unsatisfactory with these penalties often out of ...

ASIC enhances whistleblower communication

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
... option provided that what they can get is real comfort," Medcraft noted. "But now what they can get as a percentage of the penalty does not give them that protection." He said that ASIC has monitored other systems, particularly the one in place in the ...

Tarrant appeals AAT banning order

LAURA MILLAN  |  FRIDAY, 24 JAN 2014
... fairness, as well as, natural justice and has made a number of errors of law including the determining of an appropriate penalty." "Not to mention the exclusion of most of my evidence; the acceptance of the verbal evidence of a criminal over 3 other ...

New ATO powers to decrease SMSF 'delinquency'

JAMES FERNYHOUGH  |  TUESDAY, 21 JAN 2014
... have a wider range of options. "For too long the ATO was limited in what it could do, and in many instances the ultimate penalty of making a fund non-complying was too much of a sledgehammer," said Agland, whose organisation provides services to SMSF ...

Government scraps Labor's annuities reforms

JAMES FERNYHOUGH  |  MONDAY, 16 DEC 2013
... illegal release of superannuation benefits; and one that gives the Australian Taxation Office flexible and cost-effective penalty options to deal with SMSFs that breach the law. Scrapped measures include one that ensures that trust deed clauses cannot ...

Accountant gets 6 years jail for promoting tax avoidance scheme

MARK SMITH  |  TUESDAY, 24 SEP 2013
... and the penalties will be harsh," he said. "Promoters of tax avoidance schemes could face sanctions under the promoter penalty laws, which seek to prevent the promotion or marketing of tax exploitation schemes. "While the vast majority of taxation advisors ...

AXA fined for poor advice in the UK

LAURA MILLAN  |  MONDAY, 16 SEP 2013
The UK Financial Conduct Authority (FCA) has imposed AXA a financial penalty for giving poor investment advice to NAB-owned banks in the UK. AXA will have to pay a fine of more than A$3 million to customers of NAB-owned Clydesdale Bank and Yorkshire ...

Banned adviser faces jail time over 'tombstoning'

LAURA MILLAN  |  WEDNESDAY, 28 AUG 2013
... to insurance companies. ASIC banned Vyas from working in the finance industry for life in July. He now faces a maximum penalty of 10 years jail or a fine of $450,000 for each offence. Mr Vyas was released on conditional bail and the matter will return ...