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Showing 61 - 70 of 130 results for "Financial hardship"

Super withdrawals being misused

ELIZABETH MCARTHUR  |  MONDAY, 1 JUN 2020
... Spending for those who accessed their super early increased, although the scheme was designed to support people in financial hardship. On average, people withdrew $8000 and spent an extra $2855 in two weeks above their usual fortnightly spending. Bligh ...

Time to buy residential property: Survey

ALLY SELBY  |  THURSDAY, 28 MAY 2020
... the rental relief. "It's clear from the survey that landlords worked with tenants who were suffering genuine financial hardship during these difficult times, with only a very small percentage not coming to a mutual agreement," Kingsley said. "It's also ...

Sole purpose test poses SMSF rent relief issue

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... jobs and countless businesses shuttered but for SMSF trustee landlords offering rent relief to those facing financial hardship could mean they fail to meet the sole purpose test. Breaching the sole purpose test is not the only issue SMSF trustees could ...

Advisers split on COVID-19 opportunity

HARRISON WORLEY  |  TUESDAY, 12 MAY 2020
... industry support, such as MLC's offers, as the sector comes together to help Australians who are experiencing financial hardship as well as those who have emerging anxieties about their future plans, and those seeking to take advantage of market vola ...

Insurer invokes financial hardship policy

ELIZA BAVIN  |  MONDAY, 11 MAY 2020
... may have a reduced capacity to pay during the pandemic. "Initiatives taken by Integrity include; invoking our financial hardship policy for clients who have reduced capacity to pay due to the current situation, consideration of alternate methods of information ...

Early release applications top $9bn

ELIZABETH MCARTHUR  |  THURSDAY, 7 MAY 2020
... beyond the five day period and we know that this will be frustrating for these members." Under the existing financial hardship provisions, Rest would typically receive about 100 applications per week. In the first week of the new early release scheme ...

Early release of super numbers revealed

ELIZABETH MCARTHUR  |  MONDAY, 4 MAY 2020
... withdrawn $1.3 billion of superannuation in just the first week of new early release rules to help those suffering financial hardship as a result of COVID-19. Funds have paid a total of 162,879 early release applications so far out of 665,310 requests ...

Super CIOs defend illiquid assets

ELIZABETH MCARTHUR  |  THURSDAY, 30 APR 2020
... said the idea that super funds do not have the liquidity to meet the early release demands brought about by financial hardship during COVID-19 is a "furphy". "I don't think the super system has got too many illiquid assets. So I think that's ...

More super funds will merge: QMV

ELIZABETH MCARTHUR  |  THURSDAY, 30 APR 2020
... SG contributions, have fewer new members joining and have a large number of members withdrawing funds due to financial hardship. This is one of the reasons Forbes thinks merger activity is about to heat up. "I think those funds without a broad range ...

ASIC urges insurance flexibility

ELIZA BAVIN  |  TUESDAY, 28 APR 2020
... specific circumstances." The regulator said in circumstances where a consumer is not able to pay premiums due to financial hardship stemming from COVID-19 the industry is expected to help consumers keep key coverage. "This might include, where appropriate ...