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|A draft report into reforming GST and reducing inefficient taxes has reignited calls for the scrapping of stamp duty when buying or selling a home, to be replaced by a broad-based land tax.|
|The $110 billion industry fund will stop offering comprehensive advice to new customers on July 6 and cut over 50 positions, as it sees demand for holistic advice fall.|
|A CountPlus member firm has bought back 38% of its equity from the ASX-listed advice group for $1.10 million and separately, has acquired the accounting operations of another firm.|
|Implemented Portfolios (IPL) has entered into an agreement with Wealth Today to provide their financial advisers with an individually managed account (IMA) offering.|
|The approved product lists AMP financial advisers are beholden to have come under fire from the House of Representatives Standing Committee on Economics.|
|The Association of Financial Advisers and Financial Planning Association of Australia have appeared before the House of Representatives Standing Committee on Economics, sharing austere views of the financial advice industry.|
|Just 37% of retail investors believe their financial adviser always acts in their best interests, leading CFA Societies Australia to call for a strengthening of the best interest duty.|
|MyNextAdvice will develop additional solutions to help the financial advice and mortgage broking industries with compliance obligations.|
|ASIC has come under pressure from a Senator to look into AMP's treatment of financial advisers, including reducing the value of its Buyer of Last Resort (BOLR) agreements.|
|The Financial Planning Association of Australia has signed a Memorandum of Understanding with the Tax Practitioners Board, in a move which both parties say will set out a clear framework for engagement, cooperation and proactive information sharing going ...|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
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