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Showing 61 - 70 of 370 results for "Levy"

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... Compensation Scheme of Last Resort (CSLR)," AFCA said. The failure of UGC is the main driver behind the spike in the 2026 CSLR levy estimates, tipped to be $70 million. UGC accounts for $44.6 million in claims and $3.6 million in AFCA fees - meaning ...

APRA levy to cost $243m in FY26

KARREN VERGARA  |  FRIDAY, 28 MAR 2025
... account for breaches of their prudential or legislative obligations." The FY26 total amount is $3.1 million less than the FY25 levy of $246.1 million or 1.3% lower. The Australian Taxation Office's (ATO) levy is set to be $37.2 million in FY26. The consultation ...

Budget deficit to balloon to $42.1bn

ELIZA BAVIN  |  TUESDAY, 25 MAR 2025
... give the average earner around $536 more per year once implemented. Additionally, the government will increase the Medicare levy low-income threshold. Energy bills will also be reduced by $150 this year - costing the government around $1.8 billion. To ...

New tax cuts for every Australian 'a complete joke': UNSW

ANDREW MCKEAN  |  TUESDAY, 25 MAR 2025
... time," he said. Supplementing these tax measures, the government also announced it will retrospectively raise the Medicare levy low-income threshold by 4.7%, effective from 1 July 2024. Budget documents said this should help over a million lower-income ...

Fixing retirement system an election priority: Grattan

JAMIE WILLIAMSON  |  MONDAY, 17 MAR 2025
... and would cost about $360 million over its first four years and $50 million a year thereafter, which should be funded by a levy on super fund balances," it said. Finally, in terms of measures that would prepare the ground for a large pay-off down the ...

CSLR levy pain could hit $123m: FAAA

KARREN VERGARA  |  THURSDAY, 20 FEB 2025
The Compensation Scheme of Last Resort (CSLR) levy could potentially catapult to $123 million in the 2027 financial year, new estimates from the Financial Advice Association of Australia (FAAA) shows. Following the bombshell that the 2026 CSLR levy ...

FAAA 'frustrated' as Dixon inquiry delayed

ELIZA BAVIN  |  THURSDAY, 6 FEB 2025
... the Parliament listen to those calls and make commitments before the election." On January 31 the CSLR released its FY26 levy estimates which revealed financial advisers would likely have to fork out $70 million to fund the scheme, breaching the $20 ...

CSLR review will scrutinise effect on businesses

KARREN VERGARA  |  MONDAY, 3 FEB 2025
... Jones said. Stakeholders wishing to make a submission to the review have until February 28. The 2026 financial year CSLR levy estimates have blown out to $77.9 million. The financial advice sector is set to pay $70.11 million - which has blown out of ...

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 ...