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Superannuation

Gen Y super members paying triple tax

RUTH LIEW  |  TUESDAY, 23 FEB 2010
What the Gen Y giveth, the tax man taketh away. Super fund REST hopes to help 300,000 of its Gen Y members avoid paying a high 46.5 per cent tax on their super by educating them on those three little words.

Fees freeze on maternity leave at Virgin Super

RUTH LIEW  |  TUESDAY, 23 FEB 2010
Coinciding with the month of Mardi Gras celebrations, Virgin Super is cutting "unfair fees" charged to parents and same-sex partners with children on maternity and paternity leave.

Pensions fail to direct manager voting

COMPANY RELEASE  |  TUESDAY, 23 FEB 2010
The majority of investment managers say they vote most of their pension fund clients' proxies at their own discretion - without instructions or guidance from their clients.

Russell wins OneSteel mandate

COMPANY RELEASE  |  MONDAY, 22 FEB 2010
Russell has snagged one of the biggest master trust mandates when OneSteel outsourced its $1.1 billion corporate fund to the Russell Super Solution Master Trust (SSMT).

SPAA names award winners

MICHAEL HOBBS  |  FRIDAY, 19 FEB 2010
Philip Mason Cox, director at Hayes Knight Financial Planning and Shirley Schaefer, treasurer of SPAA's South Australian state chapter, were recognised at last night's SPAA awards.

KPMG sounds alarm on admin fraud

MICHAEL HOBBS  |  FRIDAY, 19 FEB 2010
Super fund trustees must make sure they have the option to audit their administration provider's performance, at short notice, to minimise the risk of fraud, according to KPMG.

No cane toad approach to SMSF shake-up

MICHAEL HOBBS  |  THURSDAY, 18 FEB 2010
As the countdown begins to the release of the Cooper Review's recommendations on SMSFs, the Review's chair Jeremy Cooper said they won't be adopting a 'cane toad' solution to the industry's flaws.

HOSTPLUS $1bn mandate up for grabs

RUTH LIEW  |  THURSDAY, 18 FEB 2010
HOSTPLUS is looking to hand out $1 billion in investment mandates across all asset classes this year.

More SMSFs comply with ATO rules

MICHAEL HOBBS  |  THURSDAY, 18 FEB 2010
Michael D'Ascenzo, commissioner of taxation at the Australian Tax Office, has commended the self managed super fund (SMSF) industry after the number of SMSF trustees that lodged their returns on time rose 11 per cent on the prior lodgement period.

Limited advice from accountants face hurdles

MICHAEL HOBBS  |  THURSDAY, 18 FEB 2010
Tony D'Aloisio, chair of the Australian Securities and Investments Commission (ASIC), said SPAA's proposal advocating for accountants to be able to provide limited structural advice on superannuation could be impractical.