801-810 of 1013 results
Defining the objective of superannuation
The Government released a discussion paper on the Objective of Superannuation today The paper says that the Government will enshrine in legislation the primary objective recommended by the Financial System Inquiry being To provide income in retirement to substitute or supplement the Age Pension ...
Raising professional standards of financial advisers
Following on from the reviews conducted by the Parliamentary Joint Committee and the Financial System Inquiry the Government delivered on its promises by releasing an exposure draft of the Corporations Amendment Professional Standards of Financial Advisers Bill 2015 the Bill late last year for ...
High Court decision on retention obligations provides some clarity to liquidators
The High Court has ruled that a liquidator has no obligation to retain monies on account of tax until a notice of assessment has been issued The decision will provide much needed clarity for liquidators and other statutorily deemed trustees and agents Partners Charles Armitage and Christopher ...
FoFA Bill passed by Senate
The Governments Future of Financial Advice Bill was passed by the Senate yesterday While the Bill began its life as the so-called Streamlining Bill introduced by the Government on 19 March 2014 the Bill as passed yesterday bears very little resemblance to the Bill as originally introduced It is ...
New AMIT rules
New legislation has been introduced into Federal Parliament that will replace the existing taxation regime for trusts which qualify as Attribution Managed Investment Trusts Partner Charles Armitage and Managing Associate Judith Taylor look at what is different from the original Exposure Draft ...
What does the Government's response to the FSI mean for banks?
The short answer is it depends on which kind of bank you are The Financial System Inquirys final report and the Governments response mean a lot for ANZ CBA NAB and Westpac particularly given their significant residential mortgage portfolios They also mean a lot for Macquarie As for the rest of the ...
Designing effective remediation programs
ASIC issued Regulatory Guide 256 Client review and remediation conducted by advice licensees late last week In short RG 256 says an Australian financial services licensees duty to provide financial services efficiently honestly and fairly means they have to take responsibility for the consequences ...
Local issuers, international format
At the same time as more international issuers appear to be looking at international programme formats for their Australian dollar issuance so Australian borrowers are contemplating the use of EMTN programmes even for their domestic currency issuance ...
Managed investment trusts exposure draft legislation: impacts on funds management industry
Exposure draft legislation to implement the long-awaited changes to the tax regime for managed investment trusts has been released The amendments are lengthy and complicated and will require systems changes and careful review of trust deeds and constitutions Although the new regime will apply ...
Section 68A - undue attention to an inadequate remedy
Its not often that a section of the SIS Act makes the daily news but section 68A of the SIS Act has done just that following the publication of a report commissioned by Industry Super Australia It is startling how much weight ASIC and APRA are apparently giving to the report as its findings are not ...