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Showing 51 - 60 of 408 results for "Coalition"

Government ignored ASIC over LIC carve-out

HARRISON WORLEY  |  MONDAY, 6 JAN 2020
... published last week under a freedom of information request made by The Australian Financial Review, ASIC pleaded with the Coalition government not to expand the stamping fee carve-out in the FoFA laws in late 2013. The expansion of the carve-out was ...

Members' interests bill sits on the precipice

HARRISON WORLEY  |  WEDNESDAY, 18 SEP 2019
... bill was the subject of significant debate in the House, with Labor MP Emma McBride taking the opportunity to hit the Coalition over the recent agitations of a number of government MPs toward the super system. The Labor party argued for a carve-out in ...

Super sector needs to end culture war

KRISTI CHENG  |  FRIDAY, 16 AUG 2019
... $50,000 a year, saying compulsory super had "made the unions, banks and insurers richer than ever". A dozen backbench Coalition MPs have called for a freeze in the superannuation guarantee, which is scheduled to rise from 9.5% to 12% by 2025.

More scrutiny for super fund, insurance firm chiefs

KARREN VERGARA  |  MONDAY, 5 AUG 2019
... could soon face another inquiry that has traditionally put the blowtorch on the chiefs of the four major banks. The Coalition has asked that the House of Representatives Standing Committee on Economics to expand its remit to inquire into the broader ...

Unfair contract terms extended to insurance

KARREN VERGARA  |  FRIDAY, 2 AUG 2019
... said proposed amendments to the Unfair Terms in Insurance Contracts Bill 2019 announced this week is the result of the Coalition taking action on the financial services Royal Commission's recommendations. "Removing the exemption for insurance contracts ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
... Frydenberg and assistant minister for superannuation, financial services and financial technology Jane Hume revealed Coalition plans to introduce the legislation later this week, in a joint statement. The Treasury Laws Amendment (Ending Grandfathered ...

All options open for retirement income review

HARRISON WORLEY  |  FRIDAY, 26 JUL 2019
... helping the less well-off and everything to do with saving the Government money." The AIST boss also criticised "well-paid Coalition MPs" and pointed out their own superannuation contributions stood at 15.4%. Scheerlinck suggested those laying the groundwork ...

SG debate puts super in a spin

HARRISON WORLEY  |  TUESDAY, 23 JUL 2019
The superannuation sector is in a spin over the super guarantee, despite the Government committing to its legislated increase to 12%. In a media release, the peak-body for industry superannuation, Industry Super Australia, fired a shot across the Government's ...

Chief economist update: A case for optimism

BENJAMIN ONG  |  THURSDAY, 11 JUL 2019
With a buoyant stock market, tax cuts, lower interest rates and a recovering housing market, one would think all Australians should have every reason to dance on the streets. Australians, all, should be dancing on the streets to Jimmy Cliff's classic ...

Downsizer contributions skyrocket

KARREN VERGARA  |  TUESDAY, 9 JUL 2019
... Queensland (24%) have been fully embracing the initiative since it was proposed in the 2017-18 Budget as part of the Coalition Government's package of reforms to reduce pressure on housing affordability. Since commencing on 1 July 2018, 65 year olds ...