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Showing 71 - 80 of 370 results for "Levy"

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 ...

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... on the SG shortfall calculated at the general interest charge rate on a compounding basis (currently 11.36%) An additional levy to reflect the cost of enforcement, up to 60% of the SG shortfall (to be reduced where employers voluntarily disclose a failure ...

Too much being asked of super trustees: Levy

ELIZA BAVIN  |  FRIDAY, 30 AUG 2024
Speaking in a personal capacity at the Senate Economics Committee, Michelle Levy said it is too much to expect superannuation trustees to fix Australia's housing problem. Levy said she is sympathetic to the housing crisis, noting that she agrees owning ...