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Showing 61 - 69 of 69 results for "Early release scheme"

Trillion dollar super industry attractive to organised criminals

DARREN SNYDER  |  MONDAY, 1 JUN 2015
The Australian Crime Commission believes Stronger Super reforms implemented from 2013 have reduced illegal early release schemes run through self-managed superannuation funds (SMSFs). In its latest report, Organised Crime in Australia 2015, the commission ...

New laws target promoters of early release schemes

JAMES FERNYHOUGH  |  FRIDAY, 7 MAR 2014
The senate has passed a bill allowing promoters of illegal early release schemes to be prosecuted. The bill is targeted at individuals or organisations that charge a fee for aiding clients in illegally accessing their superannuation before the preservation ...

Govt targets early release schemes; defers SMSF transfer ban

MELANIE TIMBRELL  |  MONDAY, 16 JUL 2012
Promoters of illegal early release superannuation schemes will face tough penalties as part of the Government's Stronger Super reforms. Minister for superannuation, Bill Shorten, announced the crack down targeting schemes promoted as a means of accessing ...

ATO shifts gears on SMSF regos

MATT WOODINGTON  |  FRIDAY, 25 FEB 2011
Trustees will not be able to register an SMSF until there are assets in the fund under a new ATO system launched late last year. Two months ago, 30,000 SMSFs were reclassified as 'Registered - Status not determined', as part of an incentive to make ...

Cooper Review calls for SMSF structure overhaul

MICHAEL HOBBS  |  TUESDAY, 15 DEC 2009
The Cooper Review has challenged the SMSF sector on how it deals with illegal early release schemes, the credentials of accountants and financial planners that offer advice to SMSFs and whether certain financial assets currently allowed should be banned. ...

Stop illegal early release of super: ASIC

ASIC RELEASE  |  TUESDAY, 1 SEP 2009
ASIC has fired its warning shot on illegal early release on super - and is appealing to trustees to help plug increasing cases spurred by losses from the GFC. ASIC is concerned that the current market conditions are contributing to an increase in the ...

ASIC cracks down on Hafoka

MEDIA RELEASE  |  WEDNESDAY, 11 MAR 2009
... withdrawing and distributing the funds to the superannuants and agents engaged by him to assist in the unlawful early release scheme. ASIC alleges that between 1 February and 21 December 2006, Hafoka acted as an agent of Kassongo and assisted at least ...

SMSF trustee faces criminal charges

RUTH LIEW  |  WEDNESDAY, 6 AUG 2008
... by withdrawing and distributing the funds to the superannuants and agents engaged by him to assist in the early release scheme. Meanwhile, Kassongo retained over $600,000 for himself by way of a commission. At the time KSF received the superannuation ...

APRA issues warning on unlawful early release of benefit schemes

The Australian Prudential Regulation Authority (APRA) today warned members of superannuation funds not to engage the services of individuals or companies promoting early access to preserved benefits before retirement. APRA has received an increased ...
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