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Showing 1 - 10 of 292 results for "Levy"

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 ...

Economists hit back at RBA guidance

ELIZA BAVIN  |  TUESDAY, 27 AUG 2024
... ease inflation, rather than the RBA. "Tighter fiscal policy in the form of tax hikes and spending cuts or maybe a 1% super levy on everyone would better spread the burden," Oliver said. "But that would mean politicians would have to do things that are ...

New shadow assistant treasurer's vision for advice, super

ANDREW MCKEAN  |  WEDNESDAY, 31 JUL 2024
Shadow Assistant Treasurer Luke Howarth has reaffirmed the opposition unreservedly supports Michelle Levy's Quality of Advice Review (QAR) recommendations and wouldn't go back to the drawing board, at an event hosted by the Financial Services ...

Regulation, profitability top adviser worries: BT

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
... Advice Review (QAR) is worrisome for advisers as is the Compensation Scheme of Last Resort (CSLR), which imposes another levy on the sector of $18.5 million for the 2025 financial year. Only 26% of advisers think the QAR reforms will benefit their business ...

ASIC levy to slug advisers $48.4m

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
... regulation activity for the 2024 financial year is expected to slug financial advisers $48.39 million collectively as the annual levy does not appear to be reducing. Licensees that provide personal advice to retail clients on relevant financial products ...

New recruits top advice industry priority: FAAA

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... (CSLR) will soon charge the advice sector $18.5 million to cover the period July 1 to 30 June 2025. The upcoming ASIC funding levy, which is divvied up among the number of advisers registered as at 30 June 2024, is scheduled to land in August. FAAA general ...

Super account advice fees a sticking point for advice bill: Senate inquiry

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
... to ongoing fee arrangements and provide flexibility in producing the Financial Services Guides. Recommendation 7 in which Levy asked to provide more certainty to trustees about the deduction of adviser fees from members' accounts, however, dominated ...

Industry reacts to Federal Budget

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... missing The Financial Advice Association Australia (FAAA) said its calls to fix the problems with the CSLR, ASIC funding levy, the financial advice exam cost and ATO portal access have been ignored in this year's Federal Budget. FAAA chief executive ...

Budget 2024: Cost of living relief takes centre stage

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... of cost-of-living relief measures in the Federal Budget, including the already announced tax cuts, increasing the Medicare levy low-income thresholds and power bill relief. "This government and this Budget delivers for every Australian. A tax cut for ...
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