Posted
| UpdatedVictims of the Storm Financial debacle who lost their life savings will be watching the debate over the Future of Financial Advice reforms with interest.
The previous Labor Government rolled out new rules to protect consumers from shonky products and operators.
But the Coalition Government says Labor went too far.
Topics: business-economics-and-finance, superannuation, australia
Posted
| UpdatedThe Financial Services Council has proposed increasing the age at which people can access their superannuation, and reviewing the assets and income test for the age pension.
Topics: superannuation, welfare, business-economics-and-finance, banking, australia
Posted
The only person jailed over Trio Capital, Australia's largest superannuation fraud, has been freed from jail after serving his two-and-a-half-year minimum sentence.
Topics: fraud-and-corporate-crime, superannuation, cooma-2630, albury-2640
Posted
| UpdatedA leading industry analyst says super funds had their best returns in 20 calendar years as share markets surged.
Topics: superannuation, business-economics-and-finance, melbourne-3000, australia
Posted
| UpdatedA leading industry analyst says super funds had their best returns in 20 calendar years as share markets surged.
Topics: superannuation, stockmarket, australia
Posted
Backpackers play a major role in Australian agriculture, but many forget to collect their full wage when they head off on their next adventure.
Topics: government-and-politics, superannuation, farm-labour, bundaberg-4670
Posted
Eliza Rogers speaks with CEO of the not-for-profit Youth Hostels Association Julian Ledger, backpackers Arthur Jan and Gesper Rauteanen, and partner in Abbotsleigh Citrus Michael McMahon.
Topics: government-and-politics, superannuation, farm-labour, bundaberg-4670
Posted
| UpdatedThe Federal Government is planning a major shakeup of the Future of Financial Advice rules introduced by Labor.
Many of the changes would overturn reforms introduced in the wake of the Storm Financial collapse, in which some investors lost their life savings because of conflicted financial advice.
One of the proposed changes would water down a key provision to obliges financial advisors to always act in the best interests of their clients.
The Assistant Treasurer Arthur Sinodinos says that is just one area where Labor's reforms went too far.
Topics: business-economics-and-finance, consumer-finance, company-news, consumer-protection, corporate-governance, economic-trends, ethical-investment, industry, accounting, advertising-and-marketing, banking, international-financial-institutions, management, markets, money-and-monetary-policy, regulation, small-business, superannuation, government-and-politics, federal-government, parliament, privatisation-and-deregulation, programs-and-initiatives, tax, australia, parliament-house-2600
Posted
Peter Costello to act as Future Fund head as David Gonski resigns to take over as chairman of ANZ.
Topics: business-economics-and-finance, economic-trends, industry, accounting, ethical-investment, consumer-finance, company-news, corporate-governance, banking, management, markets, money-and-monetary-policy, superannuation, regulation, government-and-politics, budget, federal-government, parliament, public-sector, australia
Posted
The New South Wales Treasurer Mike Baird says he will appeal against a decision preventing the government from including superannuation rises in its public sector wages cap.
Topics: superannuation, state-parliament, unions, nsw
Posted
| UpdatedOfficial figures show the average retirement age is steadily rising as Australians live longer.
Topics: business-economics-and-finance, company-news, industry, consumer-protection, economic-trends, superannuation, regulation, community-and-society, aged-care
Posted
They say there are two certainties in life, death and taxes. But there's actually a third, and that is, whichever government is in power will not be able to leave the superannuation system alone.
Despite the pleas of the super industry, the Abbott government has foreshadowed some controversial changes ahead.
Nick Sherry, the former Labor government minister for superannuation, who now works for accounting firm Ernst and Young speaks to Andrew.
Topics: superannuation, business-economics-and-finance, australia
Posted
| UpdatedThe Australia Institute says voters living in National Party seats have most to lose if a low-income superannuation scheme is scrapped by the Coalition.
Topics: federal-government, federal-parliament, superannuation, nationals, lismore-2480, coffs-harbour-2450, port-macquarie-2444, sydney-2000
Posted
| UpdatedIndustry super funds warn planned cuts to a super rebate for low-income workers will affect half of all working women and will disproportionately hit rural and regional workers.
The Coalition plans to scrap a contribution for people earning less than $37,000 a year as part of its bill to repeal the mining tax.
Industry funds are proposing tax changes for all workers and scaling back the Coalition's paid parental leave scheme in order to maintain the rebate.
Topics: business-economics-and-finance, superannuation, federal-government, australia
Posted
| UpdatedThe ageing of our population and our increasing longevity represent the demographic climate change of our time, putting our quality of life at risk.
Topics: aged-care, superannuation, government-and-politics, economic-trends, population-and-demographics
Posted
Nearly three quarters of young people do not know how much superannuation they are entitled to receive, research by the superannuation fund Rest suggests.
Topics: superannuation, community-and-society, australia
Posted
On this episode of The Drum, Labor pledges to block the Coalition’s superannuation changes, further tension between Indonesia and Australia over spying allegations and political journalist Laurie Oakes on modern politics.
Topics: government-and-politics, climate-change, superannuation, tax, journalism, australia
Posted
| UpdatedThe Government is continuing to come under fire for its decision to scrap a superannuation payment for low-paid workers, after announcing yesterday it would also abolish a proposed tax on super earnings for the better-off.
Topics: superannuation, business-economics-and-finance, federal-government, government-and-politics, australia
Posted
| UpdatedThe Opposition has labelled the Government's decision to end the super co-contribution for low-income earners while scrapping a 15 per cent tax on super earnings over $100,000 as deeply unfair.
Topics: superannuation, federal-government, alp, tax, government-and-politics, australia
Posted
| UpdatedLast year, Treasurer Joe Hockey gave a speech in which he argued entitlement spending must be wound back in order to return the budget to a more sustainable footing.
Given his strong words, and the demographic tsunami facing Australia, one would have thought the superannuation system would have been high on his list for reform.
But rather than cutting the generous tax breaks for around 16,000 wealthier Australians, he has instead chosen to scrap tax concessions for 3.6 million workers on lower incomes.
Topics: federal-government, superannuation, budget
Posted
| UpdatedThe corporate watchdog has warned real estate agents they might be breaking the law by advising self-funded retirees to invest in property.
Topics: business-economics-and-finance, consumer-protection, housing-industry, regulation, superannuation, australia
Posted
| UpdatedTreasurer Joe Hockey says the Government will ditch or change tax measures proposed by the previous Labor government at a cost of $3.1 billion to the budget, including a contentious cap on self-education expenses.
The Government has set itself a December 1 deadline to resolve uncertainty over dozens of tax and superannuation policies dating back to 2001.
Of 92 announced but unlegislated proposals, Mr Hockey says the Government will keep 18, amend three and dump seven.
The remaining 64 will be the subject of consultation about whether to cancel or keep them, "with a disposition not to proceed".
As previously announced, the Coalition is dropping Labor's proposed fringe benefits tax changes for the car industry.
Topics: tax, government-and-politics, federal-government, superannuation, australia
Posted
On this episode of The Finance Quarter, we find out how women can increase their retirement savings, the risks of using derivatives to boost returns in SMSFs and the consequences of a US debt default.
Topics: business-economics-and-finance, superannuation, australia, united-states
Posted
John McKillop says super investment in agriculture should improve
Topics: dairy-production, cotton, superannuation, beef-cattle, food-processing, sydney-2000, launceston-7250, king-island-7256, lake-bolac-3351, north-star-2408
Posted
A large agricultural investor says Australia is entering an era of institutional investment in farming.
Topics: agricultural-prices, beef-cattle, superannuation, dairy-production, sydney-2000, dirranbandi-4486, north-star-2408, lake-bolac-3351, king-island-7256