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Showing 1 - 10 of 134 results for "GST"

AMP BOLR litigants face lengthy payout process

KARREN VERGARA  |  TUESDAY, 17 SEP 2024
... based on the proposed settlement distribution scheme. Personally, my BOLR shortfall is approximately $1.6 million (excluding GST) [and] I do not believe the prospect of settling for less than $100,000 is a fair or reasonable result." In July 2023, the ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... capital raise from shareholders." The impact of the increased provisions will be partially offset by $8 million in expected GST refunds on remediation payments, the company said. Insignia Financial lost 14 advisers in the June quarter, with its total ...

AustralianSuper unleashes raft of investment and fee changes

ELIZA BAVIN  |  TUESDAY, 2 JUL 2024
... for over-the-phone retirement planning advice mentioned above, the fund claims Reduced Input Tax Credits (RITCs) of 55% on GST it pays and passes the benefit on to you in the form of a lower advice fee deducted from your account. This means that the ...

Average super balances fall

ELIZA BAVIN  |  TUESDAY, 18 JUN 2024
... financial year. Of that, 50.3% came from individual income tax ($266.7 billion), 24.2% from companies ($128.1 billion), 14.3% from GST ($76 billion), 5.5% from super funds (29.1 billion), 4.3% from excise ($22.6 billion) and 1.5% from other taxes ($7.5 ...

GST rebate changes worsens cost of advice: SMSFA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
Abolishing the rebate for the GST component of adviser fees from July 1 can aggravate the cost of financial advice, according to the SMSF Association (SMSFA). In a few weeks' time, superannuation funds and platform providers will no longer be able to ...

How will Division 296 Tax impact farmers?

CHLOE WALKER  |  THURSDAY, 22 FEB 2024
... farming clients, Timms said it is important to understand the nuances of Division 296 Tax, alongside property law, trust law, GST, and varying tax rules specific to farmland. "This, accompanied with the ability to manage family conflict and complex succession ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... digits. Authentic accounts usually have eight digits, while Caddick's accounts had six digits. Another example is that the GST line in those statements often didn't add up." The class action argues that at least one auditor should have at least ...

URF investors reject K2 as RE

KARREN VERGARA  |  TUESDAY, 20 JUN 2023
... Fund, and there are regulatory hurdles to overcome," E&P Financial said. In terms of fees, KAM charges 0.05% (exclusive of GST) and 0.225% in admin fees of gross assets. As RE, E&P Investments charged 0.08% and 0.25% respectively. On June 27, investors ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
... are not intentional. Some examples include aligning revenue with the correct time period, and advisers charging a different GST amount to the platform. There are also advisers who have too many services in the ongoing service agreement versus their FDS ...

How this budget was built

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... tax revenue is of course expected to recover as fund returns recover, but still only to where it was in 2022. Revenue from GST revenue, that jumped 12% from $73 billion in 2021-22 to $82 billion in 2022-23, is still 14% of total tax receipts. Excise ...
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