federal government

Superannuation

Government announces ‘historic reform’ of super on PPL

The Albanese government has confirmed superannuation will be paid on the Commonwealth paid parental leave scheme from next year, addressing a longstanding “gender blind s...

Financial planning

Is the ASIC affordable advice review just the first step?

Will the Government initiate an independent review of the legislation and regulation around financial planning based on the findings of the current Australian Securities ...

Financial planning

COBA and Master Builders welcome proposed credit reforms

The Customer Owned Banking Association and Master Builders Australia have both welcomed proposed credit reforms from the Federal Government to allow easier access to cred...

Policy & Regulation

Govt announces instant asset write-off extension

The Federal Government has announced it will extend the $150,000 instant asset write-off to 31 December, 2020 ....

Superannuation

Is the Govt building to far-reaching superannuation changes?

The Government has deferred the introduction of a Retirement Income Covenant raising concerns that it is building towards far-reaching changes to the superannuation via i...

Financial planning

Lawyers lash bad advice and urge urgency on compensation scheme

A lawyers group is urging the Federal Government to speed up the implementation of a Compensation Scheme of Last Resort arguing that past bad advice is only now coming ho...

Financial planning

Tough times ahead as RBA works to protect Australian economy

Managers have praised the Reserve Bank of Australia’s efforts but warned the central bank can ‘only do so much’ to stop the tide of the worldwide economic chaos caused by...

Funds management

AMP Capital questions whether stimulus package is enough

Australia will receive a large $17.6 billion direct stimulus package, which will include a $2.4 billion health package and hospital funding to the states and territories...

Financial planning

Super funds back MySuper deductibility of advice fees

The Federal Government is being confronted by an increasingly united front on the need to retain the deductibility of advice fees from MySuper products....

Policy & Regulation

No loopholes, no carve-outs insist coalition of consumer groups

A coalition of consumer groups has pointed to key changes to advice and life insurance resulting from the Royal Commission and insisted on no loopholes and no carve-outs....

Policy & Regulation

Is Frydenberg being equivocal on 12% SG?

The Federal Treasurer, Josh Frydenberg has stopped short of restating the Government’s promise to increase the superannuation guarantee, preferring to say that it has no ...

Policy & Regulation

Would you work for a super fund if your salary was at penalty risk?

Attracting talent to superannuation funds could become problematic under the Government’s move to extend the Bank Executive Accountability Regime to the superannuation in...

Financial planning

0.5% levy cap urged for any compensation scheme of last resort

All participants in the financial services industry should bear the burden of funding a compensation scheme of last resort but any levy should be capped at 0.5% of revenu...

Policy & Regulation

Climate change an APRA supervisory priority in 2020

The Australian Prudential Regulation Authority will be imposing a climate change stress test on banks, insurers and superannuation funds....

Policy & Regulation

FSC argues for exclusion of ‘experts’ from new claims-handling rules

Accountants, doctors and other should be excluded from the coverage of claims handling as a financial service and insurers should be allowed to continue giving ‘factual s...