Federal Budget 2017

Superannuation

Data confirms super exits following Budget changes

Superannuation is expected to have an outflow of funds as a result of the Budget super changes with retail master funds and wrap platforms the major beneficiaries, accor...

Superannuation

Bank-owned funds masking sales as choice

Bank-owned retail super funds were disguising sales techniques as choice when it came to super to bamboozle customers but choice did not equate to robust performance, ISA...

Superannuation

Metro-based retirees affected by housing affordability

Housing affordability has serious implications for metro-based retirees, according to Milliman’s report....

Superannuation

First home saver scheme still need questions answered

How super funds honour deemed earnings is one of the key questions surrounding the first home super saver scheme, according to HLB Mann Judd Sydney....

Superannuation

First home super scheme can engage millennials

Linking housing with superannuation is a powerful mechanism to encourage millennials to engage with their super and planners should now engage with millennial clients....

Editorial

A budget of costs and complexity

The Government’s 2017 Budget changes to financial services may have been modest but Mike Taylor writes that they will come at considerable cost....

Superannuation

First home savers scheme could be a disaster

It would be disastrous if the First Home Super Savers Scheme led to allowing other withdrawals from super, according to the Federal Opposition....

Policy & Regulation

Major banks face bipartisan pincer

The major banks are facing a bipartisan pincer on the proposed bank levy with Federal Opposition leader, Bill Shorten backing such a move while continuing his calls for a...

Life/Risk

Budget change to reduce investment property deductions

The Budget has proposed to only allow new plant and equipment assets and items added to an investment property to be depreciated....

Financial planning

Still angry ABA accuses Govt on policy on the run

The Australian Bankers Association has accused the Government of policy on the run and of abrogating normal legislative processes....

Policy & Regulation

Shareholders and customers will pay, say bank CEOs

The major banks still don’t know precisely how the Government’s new bank levy will work but most are claiming it will be shareholders and customers who ultimately pay....

Life/Risk

Comprehensive approach needed for those unwilling to downsize

The Government has left the door open to consider a more comprehensive approach in allowing seniors to use the equity in their homes, Homesafe Solutions believes....

Policy & Regulation

Fintech industry positive on Budget hand downs

Significant policy changes laid out in the 2017 Federal Budget which affect Australia’s fintech sector have been met with approval by the industry body. ...

Policy & Regulation

Bank executives unhappy with accountability regime

Bank executives are unhappy and the Financial Services Council wants substantial consultation around the new Banking Executive Accountability Regime....

Financial planning

New strategies for planners with downsizing clients

The Budget measure allowing people aged over 65 to downsize their home and contribute an extra $300,000 to super has provided scope for new planning strategies....