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Regulatory

Mortgage broker faces trial on 21 charges

HAMISH MADDEN  |  THURSDAY, 8 MAR 2007
A Victorian mortgage broker will face trial on 21 theft and deception charges relating to $600,000 he allegedly illegally obtained from clients.

Super rules will always change

ALEX DUNNIN  |  WEDNESDAY, 7 MAR 2007
Superannuation rules will always be changing and the industry just has to accept this, said Ramani Venkatramani, general manager for specialised institutions at the Australian Prudential Regulation Authority (APRA).

Budget super changes not for low budgets

Anne-Marie Corboy, chief executive of award-winning super fund HESTA, has urged the government to abolish the contributions tax and the $450 income per month threshold, arguing that the recent Budget changes are only for high income earners and have ...

Govt slams Labor on ASIC budget cuts

HAMISH MADDEN  |  MONDAY, 5 MAR 2007
The Federal Government has slammed the Opposition's proposal to cut funding for the Australian Securities and Investments Commission (ASIC), saying reduced resources and capabilities would be welcome news for criminals.

Labor the party of wealth creation: Swan

ALEX DUNNIN  |  THURSDAY, 1 MAR 2007
The fact that superannuation funds today hold assets equivalent to 95 per cent of GDP proves that Labor is the real party of wealth creation, said Shadow Treasurer Wayne Swan in a major speech he presented on superannuation earlier this month.

...while Dutton says Labor is missing the MIS point

ALEX DUNNIN  |  THURSDAY, 1 MAR 2007
Labor seems unable to make up its mind as to whether it supports the Australian Tax Office's agribusiness managed investment schemes (AMIS) ruling or whether it doesn't, said Assistant Treasurer Peter Dutton.

Senate passes super changes

The Simplified Super legislation has passed through the Senate with the Federal Opposition supporting the changes.

FPA checklist to guide members on super switching

HAMISH MADDEN  |  TUESDAY, 20 FEB 2007
The Financial Planning Association (FPA) has released a checklist for its members working with clients on switching their superannuation.

AMP FP to call 35,000 over switching advice

AMP Financial Planning (AMP FP) said it will review the superannuation switching advice it gave to around 35,000 clients, revised up from an earlier estimate of 7,000, as part of its enforceable undertaking (EU) entered into last year.

Fight the ATO not Govt on MIS tax ruling: Costello

NICK OLIVER  |  WEDNESDAY, 14 FEB 2007
There is growing unrest within the tax-effective agricultural investment community that the Australian Tax Office's (ATO)proposition to scrap the up-front tax concessions associated with non-forestry managed investment schemes (MIS) will cause havoc.