CBD couldn't help but wonder what was the driver behind the corporate plod's latest initiative labelled "new divorce and separation resources to support your financial decisions".
"A relationship breakdown changes many aspects of a person's life, including their finances. This can leave people feeling stressed and overwhelmed and make it difficult to focus on financial decisions," said ASIC deputy Peter Kell.
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"The new resources can help sort out money issues and guide people through the financial uncertainty they may be facing when a relationship ends, by providing practical steps to separate finances."
It includes a divorce and separation financial checklist and asset stocktake calculator.
![ASIC chairman Greg Medcraft is enjoying his final year at the top.](/web/20160902035120im_/http://www.theage.com.au/content/dam/images/g/n/n/h/q/6/image.related.articleLeadwide.620x349.gr6dgy.png/1472720513515.jpg)
Could it be a coincidence that Malcolm Turnbull is putting his investment banking skills to good use – let's not talk about his political skills – by divorcing the incredibly lucrative corporate registry business from ASIC and flogging it off to the highest bidder.
According to reports, ASIC generated revenue totaling $842 million from its various services, but less than $100 million was sourced from fines and penalties generated by its actual enforcement business.
The rest is derived from what the registry business charges companies to file documents, and then charges the public to access these documents – at prices that far exceed the meagre cost of running the business.
The government's tender for the business closed last week, and maybe Greg Medcraft's team at ASIC is starting to contemplate the implications of its own divorce.
![Treasury Wine CEO Michael Clarke may have had the best line of reporting season so far.](/web/20160902035120im_/http://www.theage.com.au/content/dam/images/g/n/4/m/p/x/image.related.articleLeadwide.620x349.gr6dgy.png/1472720513515.jpg)
As the press release says: "The resources are designed to help Australians manage their finances and make informed financial choices to avoid financial pitfalls during periods of significant change in their life."
Luckily for ASIC, it always kept its finances separate from the registry business cash cow. And it has more to fear from the Liberal Party's distaste for corporate scrutiny – as expressed in Tony Abbott's budget cuts for ASIC.
![Illustration: John Shakespeare.](/web/20160902035120im_/http://www.theage.com.au/content/dam/images/g/r/6/q/a/q/image.related.articleLeadNarrow.300x0.gr6dgy.png/1472720513515.jpg)
Go Harvey!
Australia's housing boom underpinned Harvey Norman's earnings bonanza on Wednesday, so don't expect its billionaire founder Gerry Harvey to tell you the party might be ending any time soon.
In an interview on Thursday morning, the ABC's Fran Kelly asked whether Harvey Norman investors should worry about economist predictions that house prices on the east coast are due for a correction.
"Interest rates, I think, are heading to zero, and the inflation rate does not look like being very high for a long time so why would house prices crash?" said Harvey, who has added $1 billion to his net worth since 2013 on the back of his company's rising share price.
"There is no guarantee it will fall at all," he said of the housing demand, which is helping feed a renovation boom that boosted the company's earnings before interest and tax 27 per cent to $522.5 million.
Our ever-optimistic retailer has further assurances for home owners and his investors worried about a potential correction.
"All I know after looking at the economy for 56 years now is that things always come back and exceed their highs some years later," he said.
Obviously, Gerry is not talking about his punt on the transportable mining accommodation business in 2012 – on behalf of his fellow investors – just as the bust loomed on the horizon.
Red Treasure
Treasury Wine Estate's premium reds are keeping its boss, Michael Clarke, in the black.
The dual Irish-South African citizen has now taken home $10 million in remuneration during the past two years. Clarke's pay for last year totalled $5.9 million including $3.5 million in base pay and cash bonuses, according to the winemaker's annual report, which was released on Thursday.
And imagine what Clarke can do this year, now that he's been able to dispense with boardroom duties at Quiksilver in February after hedge fund Oaktree took control of the surf group followings its emergence from bankruptcy.
Hardie tax
And following our reports on James Hardie and its potential tax issues in Ireland, CBD thought a line in a corporate presentation – which popped up on the ASX Thursday – was worth a mention.
"Income taxes are not currently paid or payable in Europe (excluding Ireland) or Australia due to tax losses. Australian tax losses primarily result from deductions relating to contributions to AICF (Asbestos Injuries Compensation Fund)."
Got a tip? ckruger@fairfaxmedia.com.au