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Showing 591 - 600 of 666 results for "Penalty"

Submissions open on excess super contribution cap refund rules

ALISON BEVEGE  |  THURSDAY, 18 AUG 2011
... consultation paper yesterday on the new rule that gives first-time offenders the option to withdraw the excess funds, avoiding penalty taxes. They will have 28 days to accept the refund offer. Repeat offenders will be given no reprieve. Pauline Vamos ...

ASIC jobs cut as responsibilities rise

ALISON BEVEGE  |  FRIDAY, 22 JUL 2011
... said. A report by Thomson-Reuters noted that ASIC would be hampered by risks and potential costs from instigating civil penalty proceedings against those who breach the rules and would prefer infringement notices and enforceable undertakings. Sydney ...

Govt closes in on phoenix super dodgers

ELISE BURGESS  |  WEDNESDAY, 6 JUL 2011
... submitted on the 2011-12 Budget measure and address three key areas within tax law. Proposals include extending the director penalty regime so directors are held personally liable for their company's failure to pay employees and allow the Australian ...

Westpoint directors face charges

ELISE BURGESS  |  MONDAY, 4 JUL 2011
... option to purchase WFSC to a Carey family trustee company, Bowesco. If convicted, each alleged offence carries a maximum penalty of five years' jail. The matter returns to court on July 15. On June 24, Rundle was found guilty of making a false statement ...

Landmark case against board duty failure

ELISE BURGESS  |  TUESDAY, 28 JUN 2011
... remains the priority for board and management and today's decision will not impact the progress being made on that front." A penalty hearing is to be scheduled.

MLC launches contrib. cap tool

... In addition investors can face thousands of dollars in penalties for incorrectly claiming a tax deduction or missing a penalty payment deadline." The problem with the excess contributions rules however are not aggregate amounts of the breaches but their ...

Market Wrap - Midday

AAP  |  THURSDAY, 12 MAY 2011
... security negotiations seriously. The High Court in New Zealand ordered Qantas to pay a $NZ6.5 million ($A4.82 million) penalty as part of a pre-trial settlement in the air cargo cartel case, the highest yet for price fixing in NZ. National turnover was ...

Budget 2011: Advisers granted budget wish

ALISON BEVEGE  |  WEDNESDAY, 11 MAY 2011
... breach the concessional contributions cap by up to $10,000 have been given the option to withdraw the excess funds to avoid penalty tax rates. The concession is only valid for first-time offenders. This was a major desire for financial advisers who bore ...

Budget 2011: "Benign" Budget a relief for finance sector

ALISON BEVEGE  |  WEDNESDAY, 11 MAY 2011
... and corporate watchdog ASIC to implement aspects of the Stronger Super reforms. The reforms include a new administrative penalty framework, registration of fund auditors and improved data collection. The increased funding is to be raised by increasing ...

Budget 2011: minor investors cut short

ELISE BURGESS  |  WEDNESDAY, 11 MAY 2011
... able to qualify for the LITO on any low earning income therefore a minor tax threshold would go right back to the child penalty rate which would limit their received distributions right back to $416 before child penalty tax rates would kick in."