News

Regulation, Tax

Case for franking ban not strong: IPA

The Institute of Public Accountants (IPA) has reiterated its rejection of an excess franking credits ban as it prepares to appear before a parliamentary committee public hearing on the implications of the proposed policy.

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Investments, Pensions, Retirement

Retiree focus on drawdown key

The issue of drawdowns during pre-retirement and pension phase needs greater attention, though investors are beginning to better acknowledge the risks, according to Lazard Asset Management.

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Regulation, Tax

FSC opposes scrapping of imputation credit refunds

The Financial Services Council (FSC) has called for a moratorium on adverse changes to the superannuation system, including changes to franking credit refunds.

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Regulation, Retirement, Superannuation

Draconian franking credit policy risks recession

A fund manager has warned Australia faces the prospect of its first economic recession in almost three decades if the Labor Party introduces its dividend imputation policy if it wins the next election.

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ATO

ATO expects gradual drop in SMSF reserves

The ATO has revealed the number of SMSFs with reserves has decreased and anticipates the trend will continue, with the SMSF regulator looking to benchmark this data year by year.

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Retirement, Superannuation

Rice Warner advocates for SG increase

Actuarial firm Rice Warner has backed the superannuation guarantee (SG) rising to 12 per cent as it believes there are several good strategic reasons to increase it.

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Retirement, Superannuation

Diversity, sole purpose of super need maintaining

Certain characteristics currently embodied in the retirement savings framework, such as fund diversity and the system’s sole purpose, need to be maintained, according to a panel of senior executives.

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Accounting, Financial Planning, Regulation

Licensing framework fails to kick goals: report

The removal of the accountant’s exemption in 2016 has failed on the government’s objective of improving access to SMSF advice, with over 35 per cent of practices having no licence, according to a new study released today.

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Financial Planning

HNWI advice demand remains amid headwinds

A new industry report has found while the banking royal commission has well and truly dented consumer confidence and trust, high net worth individuals (HNWI) still see the benefit of financial advice.

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Regulation, Retirement, Superannuation

Franking policy will hurt low-income retirees

New data analysis by SuperConcepts reveals the Labor Party’s franking credit policy proposal will pinch the pockets of low-income retirees.

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