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Showing 41 - 50 of 357 results for "Levy"

CSLR releases revised levy estimate

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
The Compensation Scheme of Last Resort (CSLR) has released a FY26 revised levy estimate, coming down slightly from the figure estimated in January. The CSLR said the need for a revised estimate was triggered due to the initial levy estimate, issued ...

AIOFP, FAAA encouraged by first meeting with Mulino

KARREN VERGARA  |  FRIDAY, 6 JUN 2025
... Compensation Scheme of Last Resort. The final report from the Treasury review, as well as a finalised estimate for the FY26 levy, are expected early in the new financial year." The FAAA also broached with Mulino the future of the profession, including ...

CSLR levy underspend expected as claim processing slows

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
The Compensation Scheme of Last Resort (CSLR) is set to underspend its $24.1 million FY25 levy. The CSLR said that while the claim volume originally estimated in December 2023 is still expected to eventuate, claims have taken longer than anticipated ...

Advice bodies want efficiency, long-term solutions from Mulino

KARREN VERGARA  |  WEDNESDAY, 14 MAY 2025
Australia's top advice associations are eagerly anticipating meaningful and swift changes to take place under new financial services minister Daniel Mulino, optimistic that critical reforms in the Compensation Scheme of Last Resort (CSLR) and Delivering ...

Labor wins: What super, advice industries want

ELIZA BAVIN  |  MONDAY, 5 MAY 2025
... to fix the CSLR so that financial advisers are not unfairly burdened by the cost of product failures. A cap on the advice levy and a more equitable funding model are essential." Abood also called on the government to take active steps to grow the profession ...

Smaller super funds unfairly burdened by regulatory levy model: CPA

ANDREW MCKEAN  |  WEDNESDAY, 30 APR 2025
... become "collateral damage" in an imperfect regulatory funding model, CPA Australia says, in response to Treasury's proposed levy changes for 2025-26. CPA Australia superannuation lead Richard Webb said the Financial Institutions Supervisory Levies, which ...

Coalition targets 'ambitious' goal of 30k advisers

ELIZA BAVIN  |  TUESDAY, 15 APR 2025
... viable and attractive to new entrants. "We continue to advocate for concrete reform to CSLR - specifically, capping the advice levy at $10 million and ending adviser responsibility for product failures - and believe that without such change, rebuilding ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... Compensation Scheme of Last Resort (CSLR)," AFCA said. The failure of UGC is the main driver behind the spike in the 2026 CSLR levy estimates, tipped to be $70 million. UGC accounts for $44.6 million in claims and $3.6 million in AFCA fees - meaning ...

APRA levy to cost $243m in FY26

KARREN VERGARA  |  FRIDAY, 28 MAR 2025
... account for breaches of their prudential or legislative obligations." The FY26 total amount is $3.1 million less than the FY25 levy of $246.1 million or 1.3% lower. The Australian Taxation Office's (ATO) levy is set to be $37.2 million in FY26. The consultation ...

Budget deficit to balloon to $42.1bn

ELIZA BAVIN  |  TUESDAY, 25 MAR 2025
... give the average earner around $536 more per year once implemented. Additionally, the government will increase the Medicare levy low-income threshold. Energy bills will also be reduced by $150 this year - costing the government around $1.8 billion. To ...