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Showing 71 - 80 of 116 results for "Loophole"

Labor cracks down on discretionary trusts

KARREN VERGARA  |  MONDAY, 31 JUL 2017
Opposition Leader Bill Shorten is cracking down on high-income earners exploiting a trust loophole that minimises tax bills. The Labor leader is pledging to impose a minimum 30% tax rate on the distributions of discretionary trusts to beneficiaries ...

Government cracks down on salary sacrifice loophole

EMMA RAPAPORT  |  FRIDAY, 14 JUL 2017
The Federal Government will take action to close a loophole that allowed employers to short-change employees who chose to make salary sacrifice contributions to their superannuation accounts. The move follows the release of a Superannuation Guarantee ...

Government closes super loophole

EMMA RAPAPORT  |  MONDAY, 10 JUL 2017
A loophole which allowed some superannuants to reduce taxation obligations on their superannuation income stream by electing to treat income as a series of lump sum payments has been closed by the Federal Government. The closure, announced on 3 May ...

LRBA loophole for SMSFs removed

EMMA RAPAPORT  |  THURSDAY, 11 MAY 2017
Self-managed superannuation funds will be prevented from circumventing contributions caps through the use of limited recourse borrowing arrangements under new Budget measures. Announced in the Federal Budget this week, from 1 July 2017, the outstanding ...

Wages and super should be aligned: Cbus

EMMA RAPAPORT  |  TUESDAY, 14 MAR 2017
... those who had experienced unpaid super reported that their issue had not been resolved. Cbus also called for the current loophole that allows salary sacrifice to be counted towards superannuation guarantee compliance to be closed. "We appreciate that ...

Labor blindsides super legislation

DARREN SNYDER  |  WEDNESDAY, 9 NOV 2016
The Federal Government's position on superannuation will be reaffirmed today as three pieces of legislation are introduced to parliament, all despite Labor's attempts to blindside the occasion. The legislation stems from this year's Budget announcements ...

New life code could go further: lawyer

JAMIE WILLIAMSON  |  WEDNESDAY, 12 OCT 2016
Prominent legal firm Slater and Gordon believes the Life Insurance Code of Practice is a missed opportunity to fix serious systemic problems in the industry. Several life insurers welcomed the Code issued by the Financial Services Council (FSC) yesterday ...

Shorten attacks government's retro super changes

DARREN SNYDER  |  FRIDAY, 6 MAY 2016
Federal Opposition Leader Bill Shorten used his budget reply speech last night to label the government's superannuation changes as "retrospective" and reaffirm Labor's election policy on the $2 trillion industry. On Tuesday the government announced ...

Senate recommends immediate adviser bans following "bitter harvest"

ALEX BURKE  |  TUESDAY, 15 MAR 2016
The Senate Economics References Committee has recommended legislative amendments which would allow ASIC to immediately suspend a financial adviser if "egregious misconduct" is suspected. Released today, the committee's report on the agribusiness managed ...

OPINION: Super is Murray's big rock

ANDREW BRAGG  |  WEDNESDAY, 18 NOV 2015
... gap in the super choice laws which allows employers and unions to lock employees into their chosen fund. Closing this loophole will mean that all Australians can choose their own super fund. Another fly in the ointment is the $10 billion default fund ...