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Showing 51 - 60 of 352 results for "Levy"

Jones instigates CSLR review, levy hits $70m

KARREN VERGARA | FRIDAY, 31 JAN 2025

... the $20 million cap - Treasury is now calling for a review of the controversial scheme. The CSLR today released its FY26 levy estimates and blamed the failures of Dixon Advisory & Superannuation Services (DASS) and United Global Capital (UGC) for the ...

Financial services minister Stephen Jones to retire from politics

ANDREW MCKEAN | THURSDAY, 30 JAN 2025

... ensuring financial advice reform remained on the government's agenda, legislating the first tranche of its response to the Levy review," Briggs said. Likewise, the Super Members Council (SMC) thanked Jones for his service and noted his work in championing ...

Government must commit to fixing CSLR: FAAA

MATTHEW WAI | THURSDAY, 23 JAN 2025

... collapses continuing to emerge. Now is a critical time as we await the expected announcement on the CSLR cost estimate and levy for the 2025/26 year." FAAA data shows that Dixon Advisory has amassed more than 2700 complaints and incurred near $340 million ...

Grattan Institute renews calls for best-in-show super funds, partial annuitisation

KARREN VERGARA | MONDAY, 20 JAN 2025

... think tank predicts this will cost the government about $360 million over its first four years and should be funded by a levy on all super account balances. "The complexity of the retirement income system means funds should be able to help their members ...

FAAA accuses government of crucial CSLR failure

MATTHEW WAI | THURSDAY, 16 JAN 2025

... knowledge, not historical assumptions. The chief executive of CSLR has also previously warned of the potential cost of the levy - forecasting a total of $20 million in FY26 - depending on complaints resolved by the Australian Financial Complaints Authority ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA | MONDAY, 2 DEC 2024

... a lot about the fact that our profession is a profession of small businesspeople... and how much of a new cost this [CSLR levy] is and how getting an unexpected bill like this can be really difficult," she said.

'But for' compensation methodology unfair: FAAA

KARREN VERGARA | FRIDAY, 29 NOV 2024

... that doesn't outrage you, I don't know what will," she said. Abood believes forcing advisers to foot an ever-growing levy will drive them out of the profession and increase the cost of advice for those who are left. "What we need, in terms of ...

Coalition urges super funds to push for QAR reforms

ELIZA BAVIN | THURSDAY, 21 NOV 2024

The shadow minister for financial services Luke Howarth has called on attendees to the ASFA conference to put pressure on the Albanese government to legislate reforms from the Quality of Advice Review (QAR). "Sadly, the Labor government has been slow ...

Liberal MP calls for SoA replacement

KARREN VERGARA | TUESDAY, 5 NOV 2024

Liberal MP Bert van Manen is calling for the Record of Advice (RoA) to replace the Statement of Advice (SoA) and has introduced the proposed changes in a bill to parliament. Federal member for Forde, Bert van Manen, yesterday introduced the Corporations ...

CSLR warns adviser levy will balloon

KARREN VERGARA | FRIDAY, 25 OCT 2024

The Compensation Scheme of Last Resort (CSLR) warned the advice sector should brace for an even bigger levy in the 2026 financial year, forecasting a total of $20 million. Financial advisers are set to cough up more than $20 million in FY26, which will ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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