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Showing 41 - 50 of 116 results for "Loophole"

Debt vulture crackdown welcome

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JUL 2020
One of Australia's big banks has cracked down on "debt vultures" - businesses or individuals that claim to assist those struggling with debt but actually rake in big fees. National Australia Bank said it will no longer deal with unlicensed, fee-charging ...

FASEA extension passes

ELIZABETH MCARTHUR  |  WEDNESDAY, 17 JUN 2020
... Representatives after Centre Alliance Senator Rex Patrick sought an amendment. The amendment Patrick sought deals with a loophole that allows some large corporations on an 'exempted companies' list to not file financial records with ASIC. He ...

Senator remains firm on FASEA extension

ELIZABETH MCARTHUR  |  MONDAY, 15 JUN 2020
... bill, per se, rather an 'omnibus bill' (a bits and pieces bill)," Patrick said. The amendment Patrick sought deals with a loophole that allows some large corporations on an 'exempted companies' list to not file financial records with ASIC. Patrick insinuated ...

ERS emerges as tax loophole for expats

ALLY SELBY  |  FRIDAY, 29 MAY 2020
The government's early release scheme has opened up a handy loophole for expats living in Australia, helping them withdraw their super balances tax-free. Normally, temporary Australian residents would face a 35% tax on the taxable component of their ...

SMSFs to weather the storm

ELIZA BAVIN  |  THURSDAY, 28 MAY 2020
... brunt of the pain, the ATO has said it is on the lookout for those who instead attempt to rort the system. One potential loophole the ERS scheme exposed was allowing a person to withdraw $10,000 only to put the money back in and claim a tax deduction ...

FASEA extension en route

HARRISON WORLEY  |  FRIDAY, 22 MAY 2020
... Hume made the inexplicable last-minute decision to de-list a Treasury amendment bill to avoid a vote on removing this loophole," Jones said. "The bill in question contained a vital fix for the government's embarrassing failure to manage the FASEA ...

ATO allows ERS access to New Zealanders

ELIZA BAVIN  |  WEDNESDAY, 20 MAY 2020
... Office is allowing New Zealanders with KiwiSaver accounts to access the Early Release of Superannuation scheme through a loophole. In an update to its Design and Implementation document, the ATO said those with a KiwiSaver account are able to access ...

Stamping fees consultation kicks off

KANIKA SOOD  |  TUESDAY, 28 JAN 2020
... continue collecting commissions on stock exchange-listed investment products - an exemption that is frequently termed as a "loophole". In the intervening six years, ASX-listed investment products have swelled their assets rapidly. Exchange traded products ...

Salary sacrifice loophole bill insufficient: ISA

KRISTI CHENG  |  MONDAY, 19 AUG 2019
While closing the salary sacrifice loophole is important, the bigger issue that needs to be addressed is that of unpaid super, according to Industry Super Australia. That was the main point in the body's submission to Schedule 7 of the Treasury Laws ...

Government to close super salary sacrifice loophole

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
... 1) Bill 2019 in Parliament on July 24. One of the proposals aims to protect superannuation balances by closing a legal loophole that stops employers using salary sacrificed contributions to reduce their superannuation guarantee obligations. To avoid ...